The first step is to slice up the flank steak so it is in small strips.

Grab a small bowl and combine the garlic, oil, sugar, ginger, soy sauce, and water.

Pour this mixture into the Instant Pot. Add in the beef strips and your shredded carrots.

Mix all of this together so the beef is covered in the sauce.

Put the lid on the Instant Pot and seal the valve.

Press "Manual" on the Instant Pot. Cook on the high pressure setting for 8 minutes.

Naturally release the pressure for abotu 10 minutes. After that, you can quick release the pressure.

In another bowl, add the water and cornstarch together. Move the Instant Pot to "Saute" and add this mixture in.

Let this come to a boil for about 2 minutes.

You can now serve your Mongolian beef.