Begin by setting the Instant Pot to the 'Sauté' function and adding the olive oil. Allow the oil to heat until shimmering. In batches, add the beef cubes, being careful not to overcrowd the pot. Brown the beef on all sides for about 4-5 minutes per batch. Once browned, transfer the beef to a plate and set aside.
Without wiping out the pot, add the chopped onion. Sauté until they turn translucent, which should take about 3-4 minutes. Incorporate the minced garlic and continue cooking for an additional minute, stirring frequently to release its fragrance.
Return the browned beef to the pot. Add in the sliced carrots, diced potatoes, dried thyme, dried rosemary, smoked paprika, and season generously with salt and pepper. Mix in the tomato paste, ensuring that all the ingredients are well coated and distributed evenly.
Carefully pour in the beef broth. Using a wooden spoon or spatula, scrape the bottom of the pot to release any browned bits, which add flavor and prevent a burn notice.
Secure the Instant Pot lid and ensure the pressure valve is set to Sealing. Select 'Manual' or 'Pressure Cook' on high pressure and set the timer for 35 minutes.
After the cooking cycle completes, allow the pressure to naturally release for 10 minutes. Then, carefully switch the pressure valve to Venting to release any remaining pressure quickly.
Open the lid and stir in the frozen peas. For a thicker stew, make a cornstarch slurry by mixing cornstarch with a small amount of cold water in a separate bowl. Stir the slurry into the stew and switch the Instant Pot back to 'Sauté'. Let it simmer for a few more minutes until the stew reaches your desired thickness.
Taste the stew and adjust the seasoning with salt and pepper if needed. Ladle the steaming stew into bowls, and sprinkle with fresh chopped parsley for a burst of color and flavor.
Notes
Serve with crusty bread for dipping and garnish with fresh parsley.
Keyword beef stew, comfort food, hearty meal, Instant Pot