To Prep: Sort the black eyed peas to ensure that there are no big clumps of dirt or stones. Rinsing them in a colander can help with this step. Set aside.
Add butter to the bottom of the Instant Pot and set to "sauté" mode. Once the butter is fully melted, add the chopped bacon, minced garlic, and diced onion and sauté about 10 minutes, or until the onions start to turn translucent.
Add the black eyed peas, ham, salt, pepper, and broth. Put the lid on the pressure cooker and lock into place. Cancel the sauté function.
Use the pressure cooker setting (high pressure) and cook for 10-15 minutes. 10 minutes will result in firmer beans, while 15 minutes will make them more tender. Keep in mind that the Instant Pot will take a few minutes to pressurize before it starts counting down the 15 minutes of cook time.
Natural release for 20 minutes, then manually release any remaining pressure. Once all the steam has escaped, give the contents a stir and garnish with fresh parsley.
Notes
Nutrition information is an estimate only and will vary based on exact ingredients used and serving size.