Start by making the garlic herb butter. Melt butter in a small bowl. Add salt, black pepper, smoked paprika, shallot, garlic, parsley, lemon zest, and thyme. Mix to combine and set aside.
Using kitchen shears, cut through the top of each lobster shell down the center to the tail fin, slicing partway into the meat. Flip and crack the ribs by pressing down until you hear a crack.
Loosen the meat from the shell. Remove the dark vein if present, rinse under cold water, and pat completely dry. Pull the meat up through the cut shell to rest on top for a butterflied presentation.
Arrange lobster tails on a parchment-lined baking sheet. Squeeze lemon juice over the top, then brush generously with garlic herb butter.
Bake at 450°F until the internal temperature reaches 140°F, about 13-16 minutes. Remove promptly.
For the steaks, season both sides of the steaks generously with salt and pepper.
Heat a cast iron skillet over medium-high heat until very hot. Add olive oil, then steaks. Cook until a golden crust forms, 2-3 minutes per side for 1-inch steaks (4-5 minutes for thicker cuts). Cook until 5 degrees below desired doneness.
Rest steaks 5-10 minutes before serving alongside lobster tails with your favorite sides.
