Prepare the instant pot and preheat while setting the “Sauté More” function.
Pat dry the pork with a paper towel and lightly season both sides with black pepper and salt. Using olive oil, cover the inner bottom of the instant pot.
Once the instant pot is ready, place the pork inside and cook each side for 5 minutes or until brown. Then, remove the pork from the pot and set aside.
Add onions to the instant pot and sauté for 3 ½ minutes. Then add garlic and cook until fragrant. Add cinnamon stick and bay leaves and cook for another 30 seconds.
Pour chicken broth and deglaze by scrubbing the brown bits using a wooden spoon.
Mix thoroughly with soy sauce, Italian seasoning, red chili flakes, and salt. Then add the browned pork, close the lid, and cook at high pressure for 60 minutes, then natural release for 15 minutes.
After 15 minutes, completely release the pressure, carefully open the lid, and transfer the pork shoulder to the cutting board.
Turn the instant pot setting to “Sauté more.” In a small bowl, add cornstarch and cold water. Mix well and gradually add the mixture to the instant pot until you get the desired thickness.
Slice the pork into thin slices and serve.