Place 1 cup of cold water in the bottom of a 6-quart Instant Pot or other pressure cooker.
Add steamer basket or wire rack that comes with Instant Pot.
Place eggs on/in basket.
Close lid, make sure valve is set to seal. Set on Manual (or Pressure Cook, depending on your model), High Pressure, for 5 minutes (see notes).
Meanwhile, fill up a large bowl with ice cubes and water.
Quick release pressure when five minutes is up (see notes) and immediately put eggs in ice water bath to cool and stop cooking.
Enjoy immediately or refrigerate within two hours of cooking.
Video
Notes
If you like softer boiled eggs, cook eggs for 4 minutes instead of 5 minutes, use a quick release, and don't omit the ice bath! This will yield a yolk that is mostly runny.
For harder boiled eggs (pale yellow yolk all the way through), try the 5-5-5 method: High pressure for 5 minutes, natural release for 5 minutes (before releasing remaining pressure), and ice bath for 5 minutes.
Hard boiled eggs will keep in the refrigerator up to one week. Store them in an airtight container, unpeeled.
To reheat: Peel egg, slice in half, place in microwave safe bowl, and microwave at 50% setting in 10-second intervals until warm.