Rinse the dried pinto beans thoroughly and remove any debris or damaged beans.
Add the beans to the Instant Pot along with water or broth.
Stir in the chopped onion, garlic, black pepper, cumin, paprika, olive oil, and bay leaf.
Close the lid and set the valve to Sealing.
Pressure cook on High for 35 minutes for soft beans.
Once cooking is complete, allow a natural pressure release for 10–15 minutes, then carefully release any remaining pressure.
Open the lid and stir the beans. Add salt to taste.
Remove the bay leaf and serve warm.