In the instant pot, pour in the olive oil, diced onions, garlic, and beef stew meat. Set to sauté mode and sear the outside of the beef. Add celery and carrots. Sauté 3 minutes. Turn off sauté mode.
Add in quartered potatoes and two cans of stewed tomatoes.
Pour in beef broth. Add water if liquid does not meet the fill line.
Top with salt, pepper, oregano, and basil leaves. Give it a good stir.
Place lid on the instant pot. Close the valve and set to high pressure for 20 minutes. Once the pot stops counting quick release pressure.
Serve with garlic bread. May also be topped with Parmesan cheese.