First, we need to prepare the meat. If your beef tips are too big, cut them in 1x1-inch cubes. Season with salt and pepper and mix well.
Press the “Sauté” button and add 1-2 tablespoons olive oil.
When the oil is hot, add half of the beef tips and brown on all sides for a few minutes. It’s important to keep some space in between of the meat and not to overcrowd.
NOTE: The reason we need to brown the meat in batches, is because if you overcrowd the pan/pot, the meat will start releasing its juices and will boil instead of browning. When you keep some space in-between, they will get a beautiful crust that will give the most flavor.
NOTE: Also, when you brown the meat, try not to stir it too often. Just put the pieces in a single layer, leaving space in between, and don’t touch them for a couple of minutes until they are browned, then flip and sear on the other side.
When the beef tips are browned, transfer them to a plate and set aside.
Add the chopped onions and cook them for 5-8 minutes, until they are soft and translucent. Add minced garlic and stir for about 30 seconds.Then add tomato paste and stir for another minutes.
Now we can turn the “Saute” function off and add the rest of the ingredients (seared beef tips with the juices, chopped potatoes, carrots, beef broth, and bay leaves.
Close the lid and make sure that the venting knob is set to“Seal”. Cook on manual high pressure for 35 minutes. When done, naturally release the pressure for 10 minutes, then do a quick pressure release.
Press the “Sauté” button again and bring it to boil. Add frozen peas and cook for a few minutes.
Gradually add cornstarch slurry (mixed water and cornstarch) until you get the desired thickness of the broth.