Step 1

Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function. Pour in olive oil and warm until hot. Add chicken thighs and brown on both sides, 3 to 5 minutes per side.

Step 2

Meanwhile, combine brown sugar, soy sauce, honey, apple cider vinegar, ginger, and garlic in a bowl for the marinade. Pour marinade over chicken thighs in the pot and bring to a simmer; cook for 2 minutes and scrape browned bits off bottom of pot. Turn off Saute mode. Close and lock the lid.

Step 3

Select high pressure according to manufacturer's instructions; set timer for 10 minutes. Allow 10 to 15 minutes for pressure to build.

Step 4

Release pressure using the natural-release method according to manufacturer's instructions, 10 to 40 minutes. Unlock and remove the lid.

Step 5

Stir cold water and cornstarch together in a small bowl. Remove chicken thighs from Instant Pot® and transfer to a plate.

Step 6

Select Saute function. Pour cornstarch mixture into the remaining sauce in the pot. Cook until sauce has thickened, 2 to 3 minutes. Turn off Saute mode. Pour some of the sauce over teriyaki thighs and serve.