Place all of the rinsed beans and water in the Instant Pot. Close the pot to SEALING, and set it to BEANS for 25 minutes.
Vent, then drain the beans.
Return the insert into the Instant pot and add the olive oil on SAUTEE.
Add in the onions and garlic and saute for 2 minutes. Add the rest of the ingredients OMITTING the salt. Put the lid back on to SEALING, then set it to BEANS for 15 minutes.
Vent, and allow to cool, then season with salt, pepper and extra chili powder, to taste. Enjoy!