Season the chicken thighs with salt and pepper.
Select Sauté setting on Instant Pot and add olive oil to the insert and let it heat up.
Add chicken thighs to insert skin side down and brown for 3 minutes per side.
In a small bowl, combine water, soy sauce, honey, garlic, ginger, sesame oil, lime juice and red pepper flakes (or sriracha sauce and pour over the chicken.
Scrape underneath the chicken to deglaze the pot.
Close the Instant Pot lid, turn valve to sealing and set to High Pressure, Pressure cook/manual for 10 minutes.
Once done, perform a quick pressure release (QPR).
Remove chicken thighs and reselect the Sauté function.
Take 2 teaspoons of liquid from the insert and mix with remaining cornstarch in a small bowl to create a cornstarch slurry.
Mix this cornstarch slurry into the liquid still in the Instant Pot making sure all the cornstarch dissolves.
Cook this mixture for 3-5 minutes, or until the sauce has thickened into a glaze.
Return the thighs back into the sauce and mix carefully so they’re fully coated in the glaze.
Serve over rice and garnish with sesame seeds and green onions.