Click the saute button on your instant pot. Set the temperature to high and then click more or if you have an Instant Pot Max touch the temperature setting until you get to custom then use the dial to adjust the temperature to 392 degrees. Click start.
Once the Instant Pot says hot on the display, add the coconut oil and stir to melt.
After the coconut oil is melted, add the popcorn. Stir to coat the kernels with oil. Then smooth the kernels into a single layer. Around the edges of the pot.
Place the glass lid on top and let cook. At first the popping will be slow. Then it will speed up. Once the popping slows down again. Push the cancel button.
Let the popcorn sit in the Instant Pot for another minute to finish popping.
Carefully remove lid away from you to release steam. Remove popcorn from the pot.
Drizzle with butter and sprinkle with salt, if desired.