Turn the pressure cooker to Saute High, once the pot reads Hot, add the chopped bacon and saute it until browned, which takes about 5-6 minutes. Remove the bacon and set it aside. Leave 1 tablespoon of bacon grease in the bottom of the pot to cook the greens and discard the rest.
Add the sliced cabbage or kale to the Instant Pot and saute it for 2-3 minutes, until it's softened. Turn the Instant Pot off by pressing the Cancel button. Add 1 cup of water to the pot to deglaze the pan by using a metal spatula scrape the bottom of the pot to remove any remaining bacon or stuck-on food bits. This will help prevent getting a Burn signal during cooking under pressure.
Add the peeled potato chunks to the Instant Pot. Put the lid on your pressure cooker. Using the manual settings, turn your Instant Pot to Manual High for 5 minutes. Some models might call the manual setting Pressure Cook.
Do a Natural Release of the remaining pressure in the pot. Remove the pot from the pressure cooker unit and mash the potatoes with cabbage or kale right in the pot with a fork or potato masher.
Add the butter, salt, and pepper and combine it with the potatoes until the butter is melted. Microwave the milk or cream for 30 seconds and stir that into the potatoes at well.
Adjust the seasonings and add more salt and pepper if desired.
Serve warm with bacon and green onions sprinkled on top of the colcannon and enjoy!
Notes
Make sure the potatoes are cut into 1 ½" cubes or slightly smaller so they'll be cooked through after 5 minutes of pressure cooking. By chance your potatoes aren't fork tender after pressure cooking, put the lid back on and pressure cook for 1 more minute.You can skip cooking the bacon in the Instant Pot but it really does add amazing flavor to the potatoes. If you don't add bacon, add a little olive oil to the pot. While cabbage is the traditional green used in Colcannon, kale is a terrific alternative.