Coat the inner pot of the Instant Pot with cooking spray or oil to prevent the oats from sticking to the bottom. Then add the oats, coconut milk, water, salt, and cinnamon to the Instant Pot and stir well. Scoop the mashed bananas on top of the oat mixture, but don’t stir in.

Secure the lid and set the Pressure Release to Sealing. Select the Pressure Cook setting at high pressure and set the cook time to 12 minutes.

Once the 12-minute timer has completed and beeps, allow a natural pressure release for 20 minutes and then switch the Pressure Release knob from Sealing to Venting to release any remaining steam.

Open the pot and stir the oatmeal thoroughly. There may be some liquid or foam on top, but once you stir it, the liquid will incorporate into the oatmeal and thicken up.

Stir in the peanut butter and serve warm. Once cool, store leftovers in an airtight container in the fridge for up to 5 days.