Turn your Instant Pot to sauté mode and add the olive oil. Once it shimmers, add your beef cubes in batches and sear for 2-3 minutes per side until they're golden brown. Don't crowd the pot or they'll steam instead of sear. I usually do two batches here.

Once all the beef is seared, remove it to a plate. Add the diced onion to the pot and cook for about 2 minutes until it starts to soften. You'll hear it sizzle slightly.

Stir in the minced garlic and tomato paste, cooking for another minute. This part makes your kitchen smell absolutely amazing. Mix everything together so the paste coats the onions.

Pour in the beef broth and scrape the bottom of the pot with a wooden spoon to get all those caramelized bits. This is flavor gold, so don't skip it.

Return the seared beef to the pot and stir in the honey, smoked paprika, cumin, salt, and pepper. Make sure the beef is mostly covered by liquid.

Lock the lid and set to high pressure for 35 minutes. Once the timer goes off, let it naturally release pressure for 10 minutes. Then do a quick release for any remaining pressure.

Carefully remove the lid (steam is hot!) and shred the beef using two forks right in the pot. The pressure cooker shredded beef should fall apart with barely any effort. Stir it back into the sauce and you're done.