Set Instant Pot on the sauté setting and add canola oil.
Once the Instant Pot starts to heat up, add ground beef, onion and garlic. Cook for about 2 minutes.
Scrape off any browned bits off the inner pot. This step is vital - scraping off any cooked bits off the bottom ensures that your Instant Pot properly gets to full pressure.
Add water and beef broth and continue to scrape any browned bits.
Add diced tomatoes, kidney beans, and tomato sauce on top.
Set Instant Pot to manual pressure on high for 15 minutes.
Once the time is up, allow for a natural pressure release, according to your Instant Pot’s directions.
Remove the lid from your Instant Pot and mix all of the ingredients.
Serve in separate bowls and add a dollop of sour cream and garnish with green onions and cheddar cheese.