Pour water into the Instant Pot. Place the rack that comes with the pot inside and carefully place the eggs on the rack.
Using Manual setting, set to 5 minutes. When cycle is complete, allow for natural release for 3-4 minutes. Quick release remaining pressure. Remove eggs and place in ice water. Peel as soon as they are cool enough to handle.
For soft boiled eggs, cook for 3 minutes and quick release.