Cut around the stem with a knife and open the top of the pumpkin. Scoop out the pumpkin strings and seeds.
Place the metal rack into the pressure cooker and put the pumpkin into the pressure cooker. Pour the water in.
Twist the lid on and adjust the valve to the sealing position. Press the manual button and set the timer for 15 minutes.
Once the timer goes off allow the steam to naturally release for 10 minutes. Remove the lid and check for doneness with a fork.
Remove the pumpkin from the Instant Pot to a cutting board or bowl to cool enough so you can handle it.
Once the pumpkin has cooled, scoop the pumpkin meat from the pumpkin peel and place the cooked pumpkin in a bowl.