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Trim excess skin and fat from chicken thighs.
Season with salt, pepper, paprika and oregano on the skin side.
Make sure the stainless steel insert is in your Instant Pot.
Press the "saute" function. Wait for 2 to 3 minutes and add oil and butter to the insert.
When the butter is melted and sizzling, add garlic and stir in. Add chicken thighs to IP skin side down.
Brown for 2 to 3 minutes. The longer you let it brown and make brown bits on the bottom of the pot, the more flavor the chicken and gravy will have. Just make sure the chicken doesn't burn!
Flip the chicken onto the other side and cook for 1 minutes.
Press "cancel/off" button.
Remove chicken onto a plate and set aside.
Add water to Instant Pot and use wooden spoon to scrape the brown bits from the bottom of the insert.
Place trivet in the IP and arrange the chicken thighs on top.
Close lid, set the valve to "sealing" position and press "manual" button. Set the timer to 12 minutes. The IP will beep and start coming to pressure. Since it is already hot, it won't take long.
Once the IP is done cooking, press "cancel/off" button. Do not release the pressure but let it release naturally. If you are in a hurry, let it release naturally for at least 5 minutes.
When done, carefully open the lid away from your face. Place chicken on a plate and let rest.
Remove trivet from the IP.
In a small bowl, whisk cornstarch with 1/4 cup of water. Make sure there are no clumps. Add to liquid at the bottom of the IP. Stir until thickened. You can press the "saute" function to simmer it for a few minutes to help thicken the gravy.Serve chicken with gravy. You can also keep the liquid without thickening it and use for soups.