In a small bowl, combine 1 teaspoon smoked paprika, 1 teaspoon garlic powder, ½ teaspoon onion powder, ½ teaspoon kosher salt, ½ teaspoon black pepper, and ¼ teaspoon dried thyme leaves until well combined.
Trim excess fat or grizzle off 4 chicken thighs if needed and then pat them dry with a paper towel. Sprinkle the spice rub evenly over the chicken thighs, rubbing the spice blend into the chicken to adhere. Be sure to season both sides of the chicken.
To sear the chicken is optional and must be skipped if your chicken thighs are frozen. To saute the chicken, turn the saute function on the Instant pot and add in 1 tablespoon olive oil. Let the oil heat until glistening and then add the chicken thighs, skin-side down into the inner pot. Don't overcrowd the pot, you may need to work in batches to brown the chicken. Sear the chicken for 3-4 minutes per side, until both sides are golden brown. Remove the chicken to a clean plate and turn the saute function OFF.
Pour 1½ cups water into the inner pot and scrape up any browned bits off the bottom of the inner pot (if needed.) Place the trivet inside the inner pot and then place your seared chicken thighs on top of the trivet (it is okay if they overlap).
Place the lid on the inner pot, and be sure the venting knob is pointed towards sealed. To set the cooking time: Bone-In Chicken Thighs: 8 Minutes on High Pressure (10 minutes if not seared first) Boneless Skinless Chicken Thighs: 6 minutes on High Pressure (8 minutes if not seared first) Frozen Chicken Thighs: 15 minutes on high pressure, for bone-in chicken thighs, or 10 minutes for boneless chicken thighs.
Once the cooking time has elapsed, allow the pressure to release naturally for 10 minutes. Then remove the lid and use an instant-read thermometer to check that the internal temperature of the chicken has reached 165° F.
Serve as desired.
