Place the stainless steel inner pot into the Instant Pot base and add 1 cup of water.
Place a steamer basket or trivet inside the pot and add the cubed potatoes.
Secure the lid and set the steam release valve to the Sealing position.
Cook on Manual High Pressure for 2 minutes.
Perform a quick pressure release immediately after the timer expires and carefully remove the potatoes.
Discard the water and dry the inner pot thoroughly.
Select the Sauté function on High/More and add the olive oil.
Transfer the potatoes back into the pot and season with garlic powder, rosemary, salt, and pepper.
Sauté the potatoes for 5 to 8 minutes, tossing occasionally, until the exteriors are crispy and golden brown.