Add rice to a mesh sieve and rinse under cold water for 1 minute, or until the water runs clear.
Transfer the rice to the Instant Pot. Add coconut milk, water, butter, and salt. Stir to combine, then close the lid and set the release valve to the sealing position.
Select MANUAL mode (high pressure) and cook for 6 minutes. Once finished, let the pressure release naturally. After the float valve drops, leave the rice for an additional 8 minutes, then carefully remove the lid.
Fluff rice with a fork and serve hot.
Notes
To STORE leftovers, let the Coconut Rice cool to room temperature before transferring it to an airtight container. Refrigerate for 4–6 days. For longer storage, FREEZE the cooled rice in a glass freezer-safe container with an airtight lid for up to 1 month.To REHEAT, add a few drops of water or coconut milk and reheat with a lid on, either in the microwave or on the stovetop over low heat, to steam and retain moisture.