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Place chicken, oil, and garlic into the instant pot and saute until chicken is cooked on all sides. Stir in soy sauce, water, vinegar, brown sugar and hoisin sauce. Mix well. Add pepper and stir to combine.
Place the lid on the instant pot and close the pressure valve. Set the pot to Manual, High Pressure for 8 minutes. When cooking cycle is complete, quick release the pressure and open the pot. If the mixture is thin, add cornstarch and mix well. Stir in cashews.
Serve over a bed of white rice topped with green onions.