Set the Instant Pot to sauté mode and add canola oil. When the pot has heated, add stew meat and stir to brown all sides. Season with salt, pepper, and dried parsley.
When the meat is browned, turn off the instant pot and remove the meat. Add one cup of beef broth and deglaze the pot by scraping the bottom of the pan with a wooden spatula to remove stuck-on pieces of meat and onion.