The first step is to add oil into the Instant Pot and select the saute feature. Let the oil get hot.
As the oil is heating up, slather the softened butter on all sides of the turkey. Then you will add on the poultry seasoning, chili powder, and salt and pepper.
Sear the turkey skin side down first, for 3-4 minutes. Then flip and sear the other side for 2-4 minutes.
Remove turkey and set to the side. Turn the saute feature off.
Add water or broth into the Instant Pot, and use a wooden spoon to deglaze the pressure cooker pot. Use the spoon to scrape up any stuck on bits, as this will cause a burn notice.
Once pot is cleaned on bottom place trivet in the Instant Pot, and set the turkey breast on the trivet so the turkey is out of the water.
Place your pressure cooker lid on, making sure it is sealed and valve is set to sealed as well.
Pressure cook for 7 minutes per pound. My 2 pound turkey I cook for 14 minutes. Do the 14 minutes on the poultry button, and allow the pressure cooker to natural release for 10-15 minutes.
After it is done with natural release, press off any extra pressure, by pushing the nozzle on the lid. Then carefully open, and remove the turkey. Let it set for 10 minutes.
You can place turkey in oven under broiler for 1-2 minutes to crisp up the skin if you would like.
Once done, slice and serve up this juicy Instant Pot turkey breast.