While preparing your ingredients, turn on your Instant Pot and set it to "Sauté," allowing it to heat. Once your ingredients are all prepared and your Instant Pot reads "Hot," add your oil and let it heat up for a minute.
2 tablespoons extra virgin olive oil
Add the onions and sauté for 5 to 7 minutes or until tender.
1 yellow onion
Add in the salt and pepper and stir to combine.
1 teaspoon kosher salt, 1/2 teaspoon black pepper
Add in the tomato paste and garlic. Stir to fully coat the onions. Stir in the flour. Then, whisk in the red wine, scraping up any browned bits left from sautéing the onions.
2 tablespoons tomato paste, 2 cloves garlic, 1/4 cup all purpose flour, 1 cup red wine
Whisk in the beef broth. Continue whisking until you do not see any lumps. Stir in the thyme and bay leaves.
2 1/2 cups beef broth, 1/2 teaspoon ground thyme, 2 bay leaves
Stir in the beef, carrots, and potatoes.
3 pounds beef stew meat, 4 large carrots, 1 pound potatoes
Close the Instant Pot and make sure the pressure release valve (the black knob on the top of your Instant Pot with words near it that say "sealing" and "venting") is set to sealing. Set your Instant Pot to "Manual" and the time to 10. Your Instant Pot will do nothing at first, then it will beep loudly and say "On." It will take approximately 30 minutes for it to come to pressure, and then the time will begin to count down, resulting in about 40 minutes of time in the Instant Pot.
After the timer ends, turn the pressure release valve to venting. Allow the float valve to fall (the little sliver part near the pressure release valve). Once it has, open your Instant Pot. Stir in the peas and parsley. Enjoy!
1 cup frozen peas, 2 tablespoons fresh parsley