Place all the ingredients except coconut milk in the instant pot steel insert. Stir them and close lid with vent in sealing position.
Pressure cook on high pressure for 10 minutes. When the instant pot beeps, let the pressure release naturally.
Open the pot and blend the soup smooth using an immersion blender or regular blender. If using regular blender, you may need to cool the ingredients before blending. Get the contents back to the instant pot.
Stir in coconut milk. Top with your choice of garnishes and serve.