Cut the red and yellow potatoes into quarters. Place into a large pot of cold, salted water and bring to a boil. Reduce heat and cook only partially, about 10-15 minutes. Remove from heat, drain and set aside.
Add bacon to a large frying pan and cook over medium heat for 5 minutes. Add potatoes, onions, salt, pepper, smoked paprika, garlic powder and onion powder to the pan. Continue cooking until potatoes are fork tender and golden brown, about 25 minutes. Stir in maple syrup.
Transfer potatoes to a serving dish. Enjoy!