Season chicken with salt, pepper, and curry spice and set aside.
Press the “Sauté” button to heat up Instant Pot.
Heat oil and place the chicken in Instant Pot, then brown for 4 minutes. Flip the chicken & brown the other side for another 3-5 minutes. Remove and set the browned chicken aside. Drain oil and leave about 2 tablespoons.
Add onions, followed by minced garlic, thyme, bay leaf, paprika, curry powder, stir for 2-3 minutes for the flavors to blossom.
Pour in chicken stock, then deglaze by scrubbing all the flavorful brown bits off the bottom of the pot. Add tomato paste, salt, and bouillon.
Add the browned chicken & its juices. Layer the carrot, beans and potato chunks on top. Add scotch bonnet pepper.
With the venting knob in venting position, close the lid, then turn venting knob to Sealing Position.
Pressure cook: Cook on "High Pressure" for 5 minutes + 10 minutes Natural Release.
Release the remaining pressure, then open the lid.
Bring the curry sauce to a simmer with the “Sauté” function. Mix in coconut milk and continue simmering till thickened. Taste and adjust the seasoning.