Turn the Instant Pot on to the Saute setting. Press the ADJUST button, then set the temperature to MORE. Wait for the display screen to turn to HOT.
Add the coconut oil and butter to the Instant Pot, and allow them to melt. Quickly stir to combine.
Once the coconut oil and butter, are melted and thoroughly combined, quickly add the popcorn kernels. Using a wooden spoon saute the kernels, about 30 seconds while coating them in the butter mixture.
Cover the Instant Pot with a clear Instant Pot lid. If you don't have one, you may use another clear lid that fits the top of your instant pot used for cookware.
Once the lid is on the Instant Pot, the popcorn will take approximately two minutes to start popping. Do not remove the cover. Once the popcorn starts popping, it will take about five minutes to start slowing down. Once the popping begins to slow, press the CANCEL button to turn off the Instant Pot.
Using an oven mitt, carefully remove the lid from the Instant Pot. Stir the popcorn, and transfer to a serving bowl. Enjoy!
There will be built up condensation under the lid when the popcorn is popping. Do not remove the cover until popping is complete. Use a mitt, and be careful of the moisture coming in contact with your face when lifting the lid.
Avoid using oils with low smoke points such as olive oil when preparing Instant Pot popcorn.
Makes 8 cups of popped popcorn.