INSTANT POT DULCE DE LECHE (HOMEMADE CARAMEL)

Steps:

• Remove the label and lid from the can of condensed milk and securely cover the top of the can with foil (you ABSOLUTELY MUST remove the lid from the can which is why we place foil over it once the lid is removed - it is super dangerous to cook a can with its lid still sealed on)
• Add the trivet to the Instant Pot, place the foil-wrapped can of condensed milk on top and pour in enough water (NOT directly on top of the can, but on the sides) so that the can is submerged in the water halfway up (about 8-9 cups worth of water in a 6qt). Note: You can totally do more than one can at once and fit in 2 or 3. The cooking time below will remain the same.
• Secure the lid, hit "Manual" or "Pressure Cook" High Pressure for 40 minutes. Quick release when done, carefully remove the can from the pot (it will be hot), rest on the countertop, remove the foil and let cool for 20 minutes. You'll see it will have transformed from ordinary condensed milk into a beautiful caramel/dulce de leche!
• After 20 minutes have passed, add in the vanilla extract right in the can and stir well for about 2 minutes until it goes from a lumpy consistency to a creamy one (the can may still be hot so just hold it with a dish towel while stirring with the other hand)
• Enjoy!