The first thing you need to do is get the garlic, honey, ketchup, and soy sauce. Combine all of these ingredients in a bowl.
For a crispy skin on the chicken thighs, you need to add about two tablespoons of olive oil into the Instant Pot. Then, turn it on Saute and allow this oil to get hot before you put the chicken into the Instant Pot.
Once you have added the chicken thighs, let it cook for about 5 minutes. Turn the Instant Pot off at this time.
Turn the thighs over and then pour your sauce mixture on the top.
Turn the dial on the Instant Pot, set it to "Manual" and set the timer to 15 minutes. Place your lid on the top and begin cooking the thighs.
Use the quick release once those 15 minutes are up, and then remove the Instant Pot lid. After this, move the dial to Saute on the Instant Pot.
In another bowl, mix together the water and cornstarch, and then stir this into your chicken thighs and sauce. This will allow the main sauce to thicken up.
Once the sauce has thickened up to how you like it, then turn off the Instant Pot and they are ready to eat.