Add olive oil to instant pot. Set to saute mode. Place in beef and onions and saute until beef is seared and onions have sweated the juices.
Add in garlic, paprika, and salt. Stir well.
Pour in beef broth just until the meat is covered or until the beef can barely be seen.
Place lid on instant pot and set to high pressure for 30 minutes. Once the instant pot stops counting quick release pressure.
Mix together cornstarch and a a few tablespoons water just until the cornstarch is thinned and liquid. Pour into instant pot. Place instant pot on saute mode and bring to a boil. Stirring well until the sauce starts to thicken. Once it starts to thicken turn off saute mode and let sit a few minutes.