Turn your Instant Pot to the saute setting. When the display says HOT add in the ground beef and break it up*. Add in the onion. Brown the beef for about 5 minutes. If there is excess grease drain it off. Pour in the water and scrape the bottom of the pot to remove any browned bits. Turn off the saute setting.
Add in the green pepper, tomatoes, rice, chili powder, oregano, salt, red pepper and garlic powder. Give a quick stir.
Cover the pot and secure the lid. Make sure the valve is set to sealing. Set the manual/pressure cook button to 5 minutes. When the time is up let the pot sit for 5-10 minutes and then move the valve to venting. Remove the lid.
Stir and serve. Salt and pepper to taste.
