Pour 1 cup water into the stainless steel inner pan of the Instant Pot.
Place the steamer rack inside the inner pan of the Instant Pot.
Carefully lay each egg, in one layer, on the steamer rack.
Close the lid to the Instant Pot, and move the seal to the Sealing position.
Press “Pressure Cook” button and set the Pressure level to High Pressure, and change the time to 5 minutes. (Please note that it will take about 5 minutes to come up to pressure before it starts the 5-minute pressure cooking time.)
Allow pressure to release for 5 minutes, then using a long handled spoon, do a quick release of pressure.
Fill a bowl with cold water and ice. This will become the ice bath for the eggs after they finish cooking.
After the pressure valve drops, then open the lid and carefully remove each each with a long handled slotted spoon and place each egg in the bowl with the ice water.
Let the eggs sit in an ice bath for 5 minutes.
After 5 minutes, remove each egg one at a time and peel each egg. The peel should easily come off after having been in the ice bath.
The cooking time specified above includes the time for the pressure to come to the correct pressure and the time for the natural release of pressure.