Start by cleaning the octopus. Rinse it under cold water and remove the beak and eyes.
Fill a large pot with water and bring it to a boil. Add the octopus and cook for about 40-45 minutes until it becomes tender. You can check the tenderness by inserting a fork into the thickest part of the tentacle. If it goes in smoothly, it's ready.
While the octopus is cooking, peel and cut the potatoes into bite-sized pieces. Boil them in a separate pot until they are cooked but still firm.
Once the octopus is cooked, remove it from the pot and let it cool down for a few minutes. Then, cut it into small pieces, about 1-inch thick.
Arrange the octopus pieces on a wooden plate or serving dish.
Drizzle the olive oil over the octopus and sprinkle it with the paprika.
Place the boiled potatoes around the octopus, and sprinkle the dish with coarse sea salt according to your taste.
Serve the Polbo á feira while still warm, and enjoy!