1 . Stage
Season pork with salt and pepper. Turn Instant Pot to Sauté setting and heat oil. When oil is shimmering, add pork. Sear until golden all over, about 6 minutes. Remove pork to a plate. Season all over with chili powder, cumin, and garlic powder.
2 . Stage
Turn off Sauté setting. Place trivet in Instant Pot, add 1 cup of water, and arrange pork on trivet. Lock lid and set to Pressure Cook on high for 5 minutes.
3 . Stage
Allow pressure to naturally release for 1 minute, then quick-release remaining pressure.
4 . Stage
Let meat rest for 5 minutes before slicing against the grain.