Place the rice in a medium bowl and cover it with cold water. Stir gently with a spoon to release excess starch then drain the water.
Repeat this process 2-3 more times until the water becomes mostly clear. This is especially important for coconut rice so the cooked rice isn’t gummy from excess starch.
Add the rice, coconut milk, water and salt to the Instant Pot and mix. Pressure cook for 3 minutes then natural release (do nothing) for 10 minutes. Open the lid and fluff with a fork.