Prepare marinade ingredients: Pour water, bourbon, soy sauce, honey, dry mustard, and garlic powder into a large zip top bag. Seal bag and lay flat on the counter. Massage the bag with your fingers to dissolve any mustard and garlic powder granules and mix the ingredients.
Add steak to the bag. Refrigerate overnight, or for at least six hours, turning occasionally.
Place bag on counter about an hour before grilling. Turn after 30 minutes. Remove steak and discard marinade.
For 1″ steaks, grill about 10 minutes per side, or until about 140-145 degrees. Remove from grill, and cover steaks for about 10 minutes before serving.
Can serve as steaks, or slice thinly across the grain before serving.