Press the Sauté button on your Instant Pot, and allow the bottom to heat up. Add in the olive oil and yellow onion, and stir until it looks softened, about 3 to 5 minutes. Stir in the garlic, cumin, and oregano, and stir briefly, then press the Keep Warm/Cancel button, so the garlic won't burn.
Add in 1/2 cup of water, to help deglaze the bottom of the pot. Use a spatula or wooden spoon to scrape any brown bits off the bottom of the Instant Pot, so you won't trigger a BURN error during the pressure cooking cycle.
Once the bottom of the pot looks clean, add in the remaining 4 1/2 cups of water, plus the black beans, bay leaf, and salt. Secure the lid and move the steam release valve to Sealing. Press the Manual or Pressure Cook button to cook at high pressure for 50 minutes. It will take roughly 10 minutes for the pot to come to pressure, so the screen will read ON until then. (If using soaked beans, cook for 9 minutes instead.)
When the cooking cycle is complete, let the pressure naturally release for 10 minutes (or 15 minutes if using soaked beans). When the screen reads L0:10, move the steam release valve to Venting to release any remaining pressure. When the floating valve in the lid drops, it's safe to open the lid.
Remove the bay leaf and use a fork to test one of the beans for tenderness, by mashing it against the side of the pot. It should be very tender and creamy in the middle. To eliminate the excess liquid in the pot, press the Sauté button and let the liquid simmer uncovered for 10 to 15 minutes, stirring occasionally so the beans don't stick to the bottom of the pot. Keep in mind the liquid will continue to thicken as the beans cool, so I don't recommend simmering for longer than 15 minutes. Season with additional salt (I add 1/2 teaspoon) and a tablespoon of fresh lime juice, to brighten up the flavor. Serve warm! Leftover beans can be stored in the fridge for up to 1 week, or in the freezer for up to 3 months.
Plain Black Beans (Substitute for Canned Beans)
Combine 1 pound of dry beans with 5 cups of water. Secure the lid and move the steam release valve to Sealing. Press the Manual or Pressure Cook button, and cook at high pressure for 50 minutes. (Or cook for 9 minutes if using soaked beans.)
When the cooking cycle is complete, let the pressure naturally release for 10 minutes (or 15 minutes if using soaked beans). When the screen reads L0:10, move the steam release valve to Venting to release any remaining pressure. When the floating valve in the lid drops, it's safe to open the lid.
Test a bean for tenderness by pressing one against the side of the Instant Pot with a fork. It should mash easily when it's tender. Drain the beans, then store in an airtight container in the fridge for up to a week, so you can use it in recipes.
To freeze cooked beans, line a baking sheet or plate that will fit on a flat shelf in your freezer with parchment paper. Arrange the cooked beans in a single layer, so they will freeze individually instead of in clumps, and place in the freezer for 2 hours. Transfer the frozen beans to an airtight container so they'll keep well in the freezer for up to 6 months.
Video
Notes
Nutrition information is for roughly 1/2 cup of cooked seasoned beans. This is automatically calculated and is just an estimate, not a guarantee.