Add water to the inner pot of instant pot.
Place the steaming rack or trivet (that comes with the instant pot) inside the pot.
Carefully place the eggs in a single layer (you may use more eggs too, just make sure to place the eggs in a single layer for even cooking).
Close the instant pot with lid in sealing position and cook in high pressure for 7 minutes for a medium boiled, completely cooked yolk that is bright orange in color.
If you want soft boiled eggs, a cooking time of 5 minutes will be enough. Also, if you want the yolk to be perfectly hard boiled with a yellow yolk instead of bright orange color, you may cook for about 9 to 10 minutes.
Let the pressure release naturally for about 5 minutes. Then, carefully do a gradual manual release to release the remaining pressure.
Once the pressure is all released, carefully open the instant pot.
Carefully and immediately transfer the eggs to a bowl filled with water and ice cubes for an ice water bath.
Let the eggs sit in the water bath for at least five minutes. Personally, I prefer to do a water bath for the eggs for at least 10 minutes which makes the peeling much easier.
After the ice water bath, carefully peel the eggs by gently tapping the eggs all over in a flat surafce and then carefully peel off the shell.
You can serve the eggs right away with added salt and pepper or you can add them to any recipes calling for boiled eggs.
You may also transfer the steamed boiled eggs to food containers and store in refrigerator for few more days so you can use them later in the week.