Set Instant Pot to sauté mode and add olive oil.
Season beef cubes with salt and pepper, then sear in batches until browned. Remove and set aside.
Add butter and garlic to the pot. Stir until fragrant, about 1 minute.
Add potatoes, thyme, and rosemary. Stir to coat with garlic butter.
Return beef to the pot. Pour in 1/2 cup water or beef broth.
Close lid, set valve to sealing, and cook on high pressure for 10 minutes.
Quick release pressure, open lid, and give everything a gentle stir.
Garnish with fresh parsley and serve warm.