Add red beans and water (or vegetable broth) to the Instant Pot and stir to prevent sticking. Pressure cook on high for 28-30 minutes (28 minutes for more firm, 30 for more tender // it will take about 8 minutes for the Instant Pot to pressurize before cooking begins).
Once the timer goes off, allow to naturally release for 15 minutes, then release any remaining pressure. Carefully remove lid once steam has fully escaped and strain off any excess cooking liquid.
Enjoy immediately with rice or Cajun baked fries or added to soups, stews, chili, or salads. They can also be used to make refried beans. Store cooled leftovers in the refrigerator up to 5 days or in the freezer up to 1 month. Reheat in a saucepan on the stovetop, adding a little water, as needed, to prevent sticking.
*Nutrition information is a rough estimate. *Total time includes active cook time, release time, and the time it takes for the Instant Pot to heat up (~8 minutes).