Turn the instant pot and select sauté.
Add prawns, spices and water in it and sauté for 2 minutes.
Add mustard seeds, curry leaves, coconut oil, salt, turmeric, red chili powder and pepper in it.
Close the lid of the instant pot.
Set instant pot to Manual at high pressure and cook for 4 minutes. Release the pressure quickly through steam vent.
Garnish with coriander and serve.