Add olive oil to Instant Pot pressure cooker placing chicken on top.
Sprinkle salt, garlic powder, and pepper over the chicken. Pour over water and barbecue sauce.
Place lid on the pot, making sure the vent is on the sealing position. Pressure cook for 10 minutes.
After the Instant Pot notifies the time is complete, allow the pressure cooker to release naturally for 10 minutes. Quick release whatever remains and remove the lid.
Shred the chicken on a flat surface with two forks and place back into the Instant Pot, allowing the chicken to soak up all juice.
Pile up the chicken on your favorite bun, and enjoy!