Prepare the Instant Pot: Set your Instant Pot to the sauté mode and add the oil. Once heated, add the diced ham (or meat of choice) if you’re using it. Sauté until it’s lightly browned.
Seasoning Base: Add the sofrito to the pot and sauté for a couple of minutes until it becomes fragrant. Then, add the garlic, sazón packets, ham flavor packet, and adobo seasoning and stir well to combine all the flavors.
Incorporate Rice & Water: Add the rice to the pot, stirring it with the sofrito and seasonings so that each grain is well-coated. Then, pour in the water and mix well.
Add Pigeon Peas: Stir in the drained pigeon peas. If you’re adding olives, mix them in at this stage as well.
Cook in the Instant Pot: Place lid on Instant Pot and make sure the valve is sealed. Select the "rice" button on the Instant Pot and let it cook.
Allow the Instant Pot to do a natural release for 10 minutes and then release the remaining pressure.
Fluff and Serve: Carefully open the lid and fluff the rice with a fork. Serve hot and enjoy!