Add all the ingredients to the inner liner of the Instant Pot.
Close the lid, move the sealing knob to Sealing position. Press Manual, adjust time to 2 minutes.
Once the cooking time of two minutes is done after it has come to pressure, wait for the pressure to release naturally. The little stainless steel pin near the sealing knob will fall down. It will take about 10 mins, maybe more if you double the recipe. Open the lid.
Mash the cranberries to mix with the liquid. You can mash them really well or leave some cranberry pieces as it is, whatever you prefer.
Once cooled completely, move to a clean glass jar and store in the refrigerator for up to a week to 10 days.