Combine all of the ingredients EXCEPT for the bananas and ice cream (obviously) to the Instant Pot. Mix well until the large lumps of the sugar are dissolved and it looks like a molasses.
Add the bananas and coat with the sauce being easy with the spoon – don’t smash them up.
Secure the lid and hit 'Manual' or 'Pressure Cook' High Pressure for 2 minutes. Allow a 5 minute natural release followed by a quick release when done.
Transfer to a serving bowl, let cool for a few moments and serve over bowls of vanilla ice cream.
