Add bacon to instant pot and cook on saute until barely crisp, about 8 minutes. Remove and put aside.
While the bacon cooks, chop up the onions. You can do this really quickly in a food processor.
Leave bacon fat in Instant Pot and add onions to drippings in the pot. Stir until all of the onions are coated in bacon fat.
Chop up bacon with kitchen scissors. Add coconut sugar, water or apple cider, vinegar, thyme, and cinnamon. Stir to combine.
Secure the lid on the pot. Open the pressure-release valve. Select slow cook and adjust to More (high). Cook for 2 hours with lid on and cook for 1 hour with lid off.
