Set the Instant Pot to 'Sauté' mode and adjust the setting to ’Normal'. When the display reads 'Hot', add oil.
Add bay leaves, black peppercorns and saute them for about 10 seconds or so.
Add chopped onions and minced garlic. Sauté till the onions are soft and translucent.
Add the cubed butternut squash and saute them for a minute or two. You could saute them for 8-10 minutes till they are evenly browned but I usually just do a minute or so.
Add vegetable broth, along with salt and stir it in.
Cover the lid, move the vent to "sealing" and pressure cook on high for 10 minutes. When the cooking cycle is complete, do a quick release i.e move the steam valve to "venting".
Open the lid. Removed and discard the bay leaf. Use an immersion blender to puree the soup. If using a blender to puree, wait at least 10-15 minutes for the soup to cool down.
Add lime juice and mix well.
Do a taste test and add salt and pepper if needed.
Add the coconut milk and mix well.
Optional step - if you like it spicy, add chili sauce and give it a good mix.
To garnish, use finely chopped chives (you can use the freeze dried ones too)
Serve it immediately with bread, oyster crackers or have it as is.
Notes
Notes/ Tips
I used 4 cups of vegetable broth in all. I would recommend starting with 3 cups broth and adding more as needed.
Use storebought cubed butternut squash to save prep time.
This soup can be stored in the refrigerator for 4-5 days and up to a month in the freezer.
Do not skip the lime juice since butternut squash is kinda bland in itself, the tang from the lime brings it all nicely together.
Ingredient swaps
Instead of olive oil, you can use ghee or butter for a flavorful twist.
You can replace the vegetable broth with chicken broth. If you don't have either feel free to substitute it with water.