Place the wire rack into the instant pot and add water until it comes just below the rack. Add in the sweet potatoes and season with salt and pepper.
Cover the instant pot and set to cook on high pressure for 8 minutes. It will take a few minutes to come to pressure.
Once finished, allow pressure to naturally reduce for only 3 minutes, then release the pressure.
Move the potatoes to a bowl and add in the coconut milk and thyme. Stir to combine.
Add the hazelnuts to a dry frying pan and set on high heat. Cook, stirring, for 3 minutes until toasted. Pour over the potatoes and serve.