Brown the beef: Heat the olive oil in a large pot or Dutch oven over medium-high heat. Add the ground beef and onion and cook for 6 to 7 minutes, breaking up the meat as it goes, until no pink remains and the beef reaches 160°F. Drain off the excess grease.
Soften the pepper: Stir in the diced bell pepper and cook for 2 minutes, until it just starts to soften at the edges.
Bloom the spices: Add the garlic, chili powder, cumin, oregano, smoked paprika, salt, black pepper, and tomato paste. Stir constantly for 1 minute, until the paste darkens and the whole pot smells like chili.
Add the liquids: Pour in the diced tomatoes with their juice, the tomato sauce, and the beef broth. Scrape the bottom of the pot to lift anything stuck, then bring it up to a boil.
Cook the macaroni in the pot: Stir in the kidney beans and the uncooked macaroni. Reduce the heat to a steady simmer, cover, and cook for 12 to 14 minutes, stirring every few minutes so nothing sticks, until the pasta is tender.
Thicken it up: Uncover and simmer for 3 to 4 more minutes, stirring, until the chili clings to the noodles instead of pooling around them. Add a splash of broth if it tightens up more than you'd like.
Melt in the cheese: Take the pot off the heat and stir in 1 cup of the cheddar until it disappears into the chili. Scatter the remaining 1/2 cup on top, cover for 2 minutes to melt, then finish with the cilantro and serve.
Notes
Bloom the chili powder, cumin, and tomato paste in the hot pot for a full minute before adding liquid so the spices taste toasted instead of dusty. Cook the ground beef to an internal temperature of 160°F, and cook the macaroni right in the chili so it soaks up the seasoning.