Place all ingredients in an Instant Pot. Stir and place the cover on the pot. Place the cover on the pot and set timer to 15 minutes on high pressure (pressure cook setting). It will take the IP around 23 minutes to build up pressure before it begins cooking.
When cooking is done, let release naturally for 15 minutes then manually release remaining pressure. Remove cover and use a potato masher or an immersion blender to achieve a smooth consistency.
Pour into sealed containers and store in the fridge until ready to serve.
Notes
Decrease the amount of brown sugar in the recipe for a less sugary treat.
Replace brown sugar with dark brown sugar for a bolder, deeper flavor.
When chopping and peeling the apples, fill a large bowl about half with cool water and squeeze the juice of 1/2 lemon into it. The lemon juice will keep your apples from getting brown while you get them prepped for the recipe.
Use an apple corer/peeler if you have one because they will make this process go super fast. If you don't have one, use a potato peeler and a knife to get the job done. You'll need to peel, core and chop the apples. Place them into the water-lemon juice mixture as you work.
I have fallen IN LOVE with my dear apple peeler and corer. If a lot of apples go through your kitchen, you absolutely must consider buying one. It's the most magical tool in my kitchen!
If you prefer an even thicker apple butter, adjust button to saute after it is done pressure cooking and let simmer until thickened to desired consistency.