Heat a large skillet over medium-high heat and add ground beef and onion. Cook, while crumbling with a spoon and stirring often until browned. Add taco seasoning and water and cook until slightly thickened, about 3 minutes. Remove from heat.

Line the bottom of a deep air fryer basket with parchment paper and allow the parchment to come up the sides. Arrange a layer of chips along the bottom. Top with half of the beef mixture and sprinkle 1/3 of the cheese on top. Spoon green chiles over cheese and top with a second layer of chips. Sprinkle half of the beans evenly over the chips and top with salsa and the second third of the cheese. Arrange the last layer of chips over the cheese and top with remaining beans. Add sliced jalapenos, remaining cheese and olives.

Set air fryer to 350 degrees F (175 degrees C) and cook until the cheese is melted and begins to brown, 6 to 8 minutes.