Turn the instant pot to saute mode and add in the olive oil. Season the meat with salt and pepper and sear in two batches to brown on all sides. Remove from pot.
Add the onion to the pot and cook for about 5 minutes to soften. Next add the garlic and cook 2 minutes. Add in the tomatoes and cook another 5 minutes until the mixture is dry and pasty. Season with salt and pepper.
Add the beef back in, along with the carrots, potatoes, thyme, broth, and aminos. Stir to combine.
Cover the pot and set to 25 minutes on high pressure. It will take about 10 minutes to come to pressure. Once finished, allow the pressure to naturally release for 10 minutes, then change the valve to release the remaining pressure.
Remove the top and turn on saute mode. Whisk together the potato starch and water to combine. Once the stew comes to a simmer, stir in the starch mixture. Remove from heat and serve.