Turn on the SAUTE option on the Instant Pot. Add oil to the bottom of the instant pot. When it's warmed up add the cubed pork in batches and brown on all sides. Transfer to a plate and repeat with the remaining pork. When you are all done select CANCEL.
Add the remaining ingredients to the instant pot along with the pork. Cover and cook on HIGH pressure for 30 minutes or until the pork is tender. Remove the bay leaves.
Remove the meat from the instant pot and place on a rimmed baking sheet. Using two forks shred the pork. Add 1/4 cup of the juices from the crockpot.Set broiler to high and broil pork for 5 minutes or until golden brown and crispy.
Serve immediately with cilantro and lime wedges for serving, if desired.
Notes
*The pork can be refrigerated in an airtight container for up to 3 days, or frozen for up to 3 months.