Heat the Instant Pot on Saute, add 4 tablespoons olive oil.
Brown beef on all sides
While browning, sprinkle the meat with 1 teaspoon salt and 1 teaspoon pepper
Add the potatoes, onions, carrots, garlic, tomato paste, beef broth and remaining 1 teaspoon of salt and 1 teaspoon pepper.
Seal the lid and set the Instant Pot to the Meat/Stew setting.
Increase the cooking time to 35 minutes on high pressure.
It will take approximately 55 minutes total before you hear the beep indicatin the stew has finished pressure cooking
Allow the pressure to naturally release for an additional 15 minutes, then quick-release the remaining pressure.
Remove the lid.
Add the frozen peas and frozen corn.
Place the water and cornstarch in a small jar, seal, and shake until combined.
Pour the cornstarch mixture over the stew and stir until everything is evenly coated with the sauce.
Replace the lock and lid onto the Instant Pot for a final 10 minute before serving.