Turn Instant Pot on to Sauté (normal) mode. If your pot tends to heat up faster, you can switch to "less" mode and proceed. Add butter to the pan and set an external timer (on your watch, oven, etc.) for 8 minutes.
After a few minutes, ghee will start to look clear and you should be able to see the bottom of the pan. Simmer until the milk solids separate and sink to the bottom.
Keep simmering until the milk solids caramelize (turn golden brown) and appear more grainy. Keep an eye starting at 8 minutes. It can take up to 10 minutes. Turn off IP and let the ghee cool for 5-10 minutes. Carefully, remove the inner pot from the base unit to prevent it from cooking any further.
Using a cheesecloth or a fine sieve, carefully strain the ghee into clean and dry storage bottles. Store ghee in a cool dark place or in the refrigerator.
Ghee Recipe on the Stovetop
Add the butter to a cold pan and set over medium heat. Allow the butter to melt slowly.
Stir and simmer till the milk solids separate and begin to sink to the bottom.
Stir every 2-3 minutes and let it simmer till the milk solids at the bottom begin to caramelize. Turn off the heat and move the pan to another position on the stove to cool.
When completely cooled, strain out the milk solids over cheesecloth or fine sieve into clean and dry storage bottles. Store ghee in a cool dark place or in the refrigerator.
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Notes
Use high-quality butter. The higher the quality of the butter, the better the ghee. Use the highest quality of butter appropriate for your budget. Grass-fed, organic, and Irish-style butters are all great options. My preferred brand is Kerry Gold.
The time set is for 6QT DUO Instant Pot and 16 ounces butter. Depending on the butter and temperature, it takes anywhere between 8-10 minutes for ghee to be done, so keep an eye starting at 8 minutes. In a 3QT MINI, it takes about 12-13 minutes. The room temperature in the house and the beginning temperature of the butter also influence total time.
For the stovetop method, use a heavy bottom and tall saucepan. The heavy bottom provides even heat distribution and reduces the chances of burning the milk solids. The tall saucepan comes in handy if the butter splashes in the beginning due to a temperature difference.
Ghee continues to cook after turning off the heat: So, if using the Instant Pot, remove the insert from the cooker base and let it cool. If using the stovetop, turn off heat and place the pan at another position on the stove.
Store in clean glass containers or mason jars. Ghee stays good for one month at room temperature and in the refrigerator for up to six months.
Double the recipe. One pound (16 ounces) of butter makes roughly 14 ounces of ghee. If you'd like to double the butter and use 2 pounds (32 ounces), set a timer for 12 minutes (for 6QT DUO) and start monitoring. Depending on the butter and temperature, it will be done anywhere between 12-14 minutes.
Note: The nutrition facts below are my estimates. If you are following any diet plan, I recommend cross-checking with your preferred nutrition calculator.