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Add olive oil, garlic paste, and grated ginger to a medium saucepan and cook over medium heat for 1 minute.
Add in the crushed pineapple, soy sauce, water, vinegar, brown sugar, honey, sesame oil, and red pepper flakes, and cook for 5 minutes.
Mix the cornstarch and water in a small bowl to make a slurry, then slowly pour into the saucepan while constantly whisking for 1 minute.
Let simmer for 10 minutes, then remove from heat.
Meanwhile, pat the tips with paper towels, then season with salt and pepper.
Add the steak to a hot, lightly oiled heavy-bottomed skillet and cook for 2 minutes on each side to get a nice sear. You want the temperature on a kitchen thermometer to read 140 degrees for medium-rare.
Remove from heat and pour half of the Teriyaki Sauce over the tips and stir to coat. Reserve the other half of the sauce for another recipe.
Serve with vegetables or rice.