THE FIRST STEP IS TO SEASON THE MEAT. I use fresh mashed garlic, diced small red onion, and half of a small bell pepper. I add soy sauce and a mix of spices such as paprika, cumin, sazon salt, and black pepper. And of course, the oregano, which I have from The Dominican Republic, but any kind of oregano works fine. Add the juice of a lime and mix all the ingredients until they are well incorporated into the meat and then set it aside.
Next, Set your pressure cooker or instant pot to the Saute setting and add the oil. Once the oil is hot, add some of the cubed meat in batches. It's important not to overcrowd the pressure cooker to ensure the meat gets a nice color. I recommend doing three batches.
On the last batch, add the rest of the meat back into the instant pot, and ½ cup of water. Stir, close the lid of the pressure cooker, and set the meat/stew on high for 20 minutes.
After 20 minutes of cooking, carefully release the steam from the pressure cooker and then it's safe to open the lid. The meat should now be tender.
Set the pressure cooker to Saute mode again and add Spanish olives, cilantro, tomato paste, and red wine vinegar. Also, add red and green peppers. If desired, you can add white onions and 2 potatoes, although these are optional.
Continue cooking for 15 minutes or until the potatoes are soft and done. And your carne guisada is ready to serve!