Pour 1 cup water in the inner pot of the Instant Pot. Place a steamer basket or a trivet on top of it. Place the ears of corn on it.
Close the lid of the Instant Pot and move the sealing knob to SEALING. Press STEAM and adjust time to 5 mins.
While the corn is cooking, make the sauce by mixing together the mayonnaise, lime juice, paprika, chili powder and cumin powder.Also, chop the onion, jalapeno and cilantro and keep it all ready.
Once the corn is done cooking, carefully move the sealing knob to RELEASE to do a quick pressure release. The little metal pin next to it will fall down once the pressure is released all the way through.
Carefully open the lid of the Instant Pot and let some of the steam escape before you try to get the corn out.
You can either lift out the steamer basket as a whole or using a pair of tongs, take out the ear of corns by themselves.
Holding each ear of corn with a folder paper towel, slice out the corn kernels from it. Put them in a mixing bowl and add the butter to it right away.
The heat from the corn will make the butter melt as you start mixing it.
Add in the sauce, salt and pepper and mix well. Check for taste.
Top with crumbled cotija cheese and minced cilantro and serve right away as it is or as a side with tacos or as a topping for tacos.