Set your Instant Pot to the Sauté setting. When display reads "hot", heat the butter/ghee.
Add in the short ribs and brown on all sides. Add onion and garlic and cook for 1 minute.
Add the beef bone broth, salt, pepper, coconut sugar, allspice and bay leaves.
Using the Manual setting on the Instant Pot, adjust to high pressure and cook for 30 minutes. When time is up, Allow pressure to naturally release. Remove the meat to a platter.
If you wish to thicken the sauce, skim off any excess fat, remove the bay leaves and allspice and add the coconut milk to the cooker.
Blend the arrowroot into 2 tablespoons of water.
Set your Instant Pot to Sauté, bring the sauce to a boil and stir in the arrowroot mixture. Boil gently, stirring constantly until the sauce has thickened or about 2 minutes. Serve and enjoy!