Step 1

Coat a 7 inch nonstick springform pan with cooking spray.

Step 2

Whisk together the milk, eggs, pumpkin, 1/4 cup of the sugar, 2 tbsp of the light butter, the pumpkin pie spice, 1 tsp of the vanilla extract, and salt in a large bowl until well blended. Add the bread cubes and toss to coat well. Let stand for 10 minutes to allow the bread to absorb the milk mixture, stirring occasionally. Place the bread mixture into the springform pan; press down on the bread with the back of a spoon.

Step 3

Place the water and a trivet in the Instant Pot. Cover the springform pan entirely with foil. Make a foil sling by folding an 18 inch-long piece of foil in half lengthwise. Place the pan in the center of the sling and lower the pan into the pot. Fold down the excess foil from the sling to allow the lid to close properly.

Step 4

Seal the lid, close the valve, and set the Manual/Pressure Cook button to 40 minutes.

Step 5

Use a natural pressure release for 10 minutes, followed by a quick pressure release. When the valve drops, carefully remove the lid. Remove the pan and sling carefully using the ends of the foil. Remove the foil from the springform pan. Let stand for 15 minutes to cool.

Step 6

Meanwhile, remove the trivet and discard the water in the pot. Whisk together the apple juice and cornstarch in a small bowl. Press the Cancel button and set to Sauté. Then press the Adjust button to “More” or “High.” Add the juice mixture and the remaining 1 tbsp of sugar to the pot. Bring to a boil and boil for 1 minute, or until thickened, stirring constantly. Remove the insert from the Instant Pot, and stir in the remaining 1 tbsp of light butter and 1 tsp of vanilla extract.

Step 7

Cut the bread pudding into 8 wedges and serve topped with the sauce.