Measure rice and place it in a medium bowl or a large glass measuring cup. Add water about 1 inch above the rice. Let soak for at least 4 hours.
Add 1 cup of cold water to the Instant Pot. Place a fine colander in (I used the Instant Pot silicone vegetable steamer). Drain the rice and pour it into the colander. Spread into an even layer.
Place the lid on and lock it. Check to ensure the valve is set to sealing.
Turn the Instant Pot on MANUAL mode (high pressure) for 12 minutes. Once fully cooked, release the pressure manually by carefully switching the valve to the venting position. Once the float valve pin drops, carefully remove the lid.
Serve immediately.
Notes
To STORE Instant Pot Sticky Rice, let it cool to room temperature, then place it in an airtight container. It will stay good in the fridge for up to 4-5 days. To FREEZE, store in your freezer. our frozen sticky rice can last for 2 months.To REHEAT, sprinkle a bit of water over the rice to prevent drying out. You can reheat it in the microwave, covered, for 1-2 minutes, or steam it until it's heated through.