Turn the Instant Pot on and press the Sauté function key (it should say High, 30 mins). Add the coconut oil, onion, and half of the salt then sauté for 3-4 minutes, until softened.
Add the garlic, chili and spices and stir through for 20-30 seconds.
Add the cabbage and carrots, lime juice, coconut, and olive oil and stir through. Add the water and stir through. Press Keep Warm/Cancel button.
Place and lock the lid, make sure the steam releasing handle is pointing to Sealing. Press Manual (High Pressure) and set to 5 minutes. After 3 beeps, the pressure cooker will start going. Once the time is up, use the quick release to let off the pressure.
Serve with rice or beans or as a side dish with fish or chicken.
