In a bowl, whisk together the orange juice, lime juice, soy sauce, minced garlic, ground cumin, chili powder, smoked paprika, dried oregano, black pepper, cayenne pepper (if using), and olive oil to create the marinade.
Place the flank or skirt steak in a shallow dish or a resealable plastic bag and pour the marinade over the steak, ensuring it is well coated. Marinate the steak in the refrigerator for at least 2 hours, or preferably overnight, to allow the flavors to infuse.
Preheat the air fryer to 400°F (200°C) for 5 minutes.
Remove the marinated steak from the refrigerator and let it sit at room temperature for about 20-30 minutes.
Pat the steak dry with paper towels and season with salt to taste.
Place the steak in the preheated air fryer basket in a single layer. Cook for 8-10 minutes for medium-rare, flipping the steak halfway through the cooking time.
Once the steak is cooked to your desired doneness, transfer it to a cutting board and let it rest for a few minutes.
Slice the Carne Asada against the grain into thin strips.
Serve the Air Fryer Carne Asada with your favorite sides, such as warm tortillas, salsa, guacamole, and lime wedges.