Rinse and pat dry the chicken.
Coat chicken with olive oil.
Sprinkle the chicken with salt, pepper, onion powder, garlic powder, paprika, rosemary and thyme.
Allow chicken to rest for 1/2 hour.
Sear your chicken in your Instant Pot using the Saute function for 5-6 minutes each side.
Remove chicken from Instant Pot and return bottom rack to the pressure cooker.
Add 1 cup of liquid (water or chicken broth) to the Instant Pot.
Cook on HIGH pressure for 24 minutes.
Let pressure naturally release for 15 minutes.
Remove chicken from Instant Pot and serve.