Place onion, beans, ham bone and seasonings in instant pot. Cover with water.
Cook on high pressure for 1 hour, then quick release the pressure.
Remove bone and bay leaf.
Stir in chopped ham and pressure cook for another 5 minutes. Quick release the steam again.
Taste and adjust seasoning to your liking. Serve with cornbread or beer bread if desired.
Notes
You can cook the beans for as little as 30 minutes, but the extra time makes them extra creamy and delicious. We think it's worth the extra time.Store leftover soup in airtight containers in the refrigerator for up to a week. Ham and bean soup also freezes really well.For easy lunches later, freeze it in single serve sizes. Defrost the soup overnight and then warm up when you are ready to eat it!