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Toss the cubed pork with the garlic powder and chipotle chili powder. Season liberally with salt and pepper.
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Click the “Saute” setting on the Instant Pot. Add oil and one third to half of the pork, and sear — turning every 45-60 seconds or so — until the pork is browned on all sides. Transfer pork to a separate clean plate, and repeat with the remaining pork, working in batches, searing until browned on all sides. Press “Cancel” to turn off the heat.
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Pour Corona, orange juice, lime juice, and water into the Instant Pot. Add two bay leaves and return all the pork to the Instant Pot.
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Press “Meat”, then press “Pressure” until the light on “High Pressure” lights up, then adjust the up/down arrows until time reads 30 minutes. Ensure the vent is set to "Sealing". Cook. The Instant Pot will turn off on its own, leave the pork untouched for 15 minutes to let the pressure dissipate naturally. Carefully turn the vent to “Venting”, just to release any extra pressure that might still be in there. Then remove the lid.
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Press the "Saute" setting on the Instant Pot, click "Adjust" until the temperature is set to "Less". Simmer on the saute function until the broth is reduced by half - about 20 to 30 minutes. Turn off Instant Pot.
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Remove pork to a cutting board and shred with two forks.