Begin by setting your Instant Pot to the "Sauté" mode. Once hot, add the sesame oil to the pot. Allow it to heat for a minute, then add the minced garlic and freshly grated ginger. Sauté for about 1 minute until fragrant, being careful not to burn them.
Next, place the chicken thighs into the pot, skin-side down. Sear them for about 3-4 minutes until they start to brown. This step adds extra flavor to your dish.
Carefully pour in the low sodium soy sauce, water, and honey. Sprinkle in the red pepper flakes and give everything a gentle stir to combine.
Secure the lid on the Instant Pot, making sure the valve is set to "sealing." Select the "Pressure Cook" or "Manual" function, and set the timer for 10 minutes. Once the cooking time is up, allow for a natural release for 5 minutes before carefully turning the valve to "venting" to release any remaining pressure.
In a small bowl, whisk together the cornstarch and water until smooth. Turn the Instant Pot back to "Sauté" mode and stir in the cornstarch mixture. Let it simmer for about 2-3 minutes until the sauce has thickened.
Plate the chicken thighs and drizzle the thickened sauce over the top. Garnish with sesame seeds and chopped green onion for a pop of color and flavor. Enjoy your Instant Pot Honey Garlic Chicken Thighs with rice or your favorite side!