Sort, rinse, and drain kidney beans. Cover with water and soak overnight. Drain and rinse.
Place beans and water in Instant Pot, cover, seal, and cook at high pressure for 8 minutes. Allow cooker pressure to release via natural method.
Remove lid and add remaining ingredients. Stir to combine.
Cover Instant Pot, seal, and cook at high pressure for 22 minutes. Allow cooker pressure to release via natural method, but vent remaining pressure 20 minutes. Remove lid, remove bay leaves, and stir to fluff rice. Serve.