Prepare the Chicken:

Pat the chicken thighs dry with paper towels. In a small bowl, mix garlic powder, smoked paprika, onion powder, dried thyme, salt, and pepper. Rub this seasoning blend evenly over the chicken thighs.

Sear the Chicken (Optional):

Set the Instant Pot to the "Sauté" function and add olive oil. Once hot, sear the chicken thighs skin-side down for 2–3 minutes until golden brown. Flip and sear the other side for an additional 2 minutes. Remove the chicken and set aside.

Deglaze the Pot:

Pour in the chicken broth and soy sauce (if using) to deglaze the bottom of the pot. Use a wooden spoon to scrape up any browned bits, which add flavor to the dish.

Pressure Cook:

Place the trivet inside the Instant Pot and arrange the chicken thighs on top. Seal the lid and set the valve to the "Sealing" position. Cook on "Pressure Cook" or "Manual" mode at high pressure for:

10 minutes for boneless chicken thighs

12 minutes for bone-in chicken thighs

Natural Release:

Allow the Instant Pot to naturally release pressure for 5 minutes, then carefully switch the valve to "Venting" to release any remaining pressure.

Serve or Broil:

For crispy skin, transfer the chicken thighs to a baking sheet and broil them in the oven for 2–3 minutes. Serve immediately with your favorite sides.