In a bowl, combine the chipotles, garlic, achiote paste, orange juice, lime juice, vinegar, cumin, oregano, salt, and pepper. Using a fork, mash to a smooth paste. Add the chicken and coat well. Cover and refrigerate for at least 1 hour, or up to overnight.
Press Saute-high on the Instant Pot and heat the oil. Working in batches, remove the chicken from the marinade and add to the pot in a single layer, shaking off any excess marinade. Cook until well browned on both sides, about 4 minutes per side. Transfer to a large plate. If needed, press Saute-low to lower the heat and avoid scorching. Press Cancel.
Pour 1 cup water into the Instant Pot; place the long-handled wire rack in the pot. Place the chicken on the rack in an even layer. Secure the lid and set the Pressure Release to Sealing. Press Meat/Stew, and then set the cooking time for 15 minutes.
When the cooking program is complete, press Cancel. Perform a quick pressure release by moving the Pressure Release to Venting. Open the pot; using tongs, transfer the chicken to a plate, tent with aluminum foil, and let rest for about 5 minutes. Cut the chicken into thick slices and serve.
Make this a DIY dinner: Set out taco toppings such as a cabbage slaw, avocado, cilantro, toasted pepitas, fresh salsa, and warmed tortillas.
Recipe by Deborah Schneider, author of The Essential Mexican INSTANT POT Cookbook: Authentic Flavors and Modern Recipes for Your Electric Pressure Cooker.