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Step 1
Using a vegetable peeler, carefully peel the fruit, trying not to get any white pith which will give the extract a bitter note. Place citrus peels in a 16-ounce canning jar and reserve the fruit for another use.
Step 2
Add vodka to the canning jar. Cover the jar with a canning lid and ring, but do not tighten the lid all the way.
Step 3
Place a trivet in a multi-functional pressure cooker (such as Instant Pot®), pour in water, and place the jar on the trivet. Close and lock the lid and turn the pressure valve to sealing. Select high pressure according to manufacturer's instructions, and set timer for 45 minutes. Allow 10-15 minutes for pressure to build.
Step 4
When cooking is complete, allow pressure to release naturally according to manufacturer's instructions for 15 minutes, then manually release remaining pressure.
Step 5
Transfer the jar to a cooling rack and allow to sit overnight. You can leave the fruit peels in a jar with a pourable lid, or strain into smaller bottles.