Start by preparing your chicken. Make sure to cut it into bite-sized pieces; this helps it cook evenly and absorb the flavors well.
In a small bowl, add the honey, soy sauce, water, lemon juice, and garlic. Whisk everything together until well combined.
If you're planning to serve this with rice, now is a good time to start cooking it. I suggest using 2 cups of uncooked rice for a meal that serves four.
Now, it's time to turn on your instant pot. Press the "sauté" button and add the olive oil. Once the oil is hot, add the chicken pieces. Cook for about 3 minutes, stirring frequently. You want the chicken to be lightly browned.
Pour the honey garlic mixture into the instant pot over the chicken. Give everything a good stir to ensure the chicken is well coated.
Close the lid of the instant pot and set the valve to "sealing". Cook on high pressure for 5 minutes. Remember, it will take a few moments for the pot to come up to pressure before the cooking time starts counting down.
Once the cooking time is up, do a quick release of the pressure by turning the valve to "venting". Be careful of the steam!
After the pressure is released, open the lid and set your instant pot back to "sauté". You’ll want to thicken the sauce now.
In a small bowl, mix the cornstarch and 2 tablespoons of cold water together until smooth. Add this mixture to your instant pot and stir well.
Continue cooking for a few minutes until the sauce has thickened to your desired consistency. Season with salt and pepper to taste.
Once thickened, serve the Instant Pot Honey Garlic Chicken over rice and garnish with chopped chives or parsley if desired.