Rinse Rice: Rinse the rice well under cold water then add to your Instant Pot with everything except for the raisins and coconut milk.
Cook Rice: Seal the lid and make sure the vent is turned to sealed. Press the pressure cook button and set the timer to 22 minutes. After the cooking time has completed, let the pressure release naturally for 15 minutes. If there is any pressure remaining, turn the vent to venting to release.
Add Coconut Milk & Raisins: Carefully remove the lid and stir in the coconut milk and raisins. It will seem very watery at this point but will thicken substantially after it sits. Press Saute and bring to a light boil, this should only take a few minutes.
Thicken: Press Cancel to turn off Saute then rest the lid back on the Instant Pot and let sit, stirring occasionally, until thickened to your preference (10-30 minutes). The longer it sits, the thicker it will get and it will continue to thicken after storing in the fridge.
Serve: Enjoy as is or topped with a sprinkle of brown sugar or coconut sugar, coconut milk, banana, berries, yogurt, or any chopped nuts or seeds.