Sauté the beef: Turn the Instant Pot to the sauté setting and allow it to heat up. Drizzle in a tablespoon of olive oil (or more if needed) to coat the bottom of the pot. Add the beef stew meat in batches to avoid overcrowding, and sear it for about 15 minutes on the saute function, stirring occasionally to ensure all sides are browned. This step enhances the flavor by caramelizing the beef.
Cook the onions: With 5 minutes left on the sauté timer, add the diced onion. Stir frequently to soften the onion and release its sweetness, blending it with the juices from the beef.
Add the remaining ingredients - vegetables and liquids: Once the beef is browned, turn off the sauté function (keep all those browned bits in the pot for loads of flavor). Add the potatoes, carrots, zucchini, squash, green beans (with their liquid), corn (with their liquid), peas (drained), canned tomatoes (undrained), beef broth, bay leaves, and a generous pinch of salt and pepper. Stir everything together to evenly distribute the flavors.
Pressure cook: Secure the Instant Pot lid, ensuring the valve is set to the sealing position. Select the pressure cook setting and set the timer for 30 minutes on high pressure.
Release pressure: When the cooking time is complete, you can either allow the pressure to natural release (which takes about 15-20 minutes and intensifies the flavors) or do a quick release by carefully turning the valve to the venting position. Either method works, and the soup will have the same delicious outcome.
Serve and garnish: Open the lid and give the soup a good stir. Taste and adjust the seasoning with additional salt and pepper if needed. Serve hot, paired with fresh gluten-free bread or crackers. Top with shredded cheddar cheese for a creamy, savory finish. Store leftovers in an airtight container.