Cut the beef into cubes of around 1 inch to 1-1/2 inch. Marinate with the spices or a sachet of Bo Kho spices, at least for 30 minutes or overnight, if possible.
Cut and slice all the other ingredients and aromatics.
Add 1 cup water in the IP. Put the sliced carrot in a steamer basket, put in IP. Close lid, turn the knob to sealed position. Set the IP to manual pressure cook, 3 minutes. After finished, let natural release for 5 minutes, then manually release steam (cover the knob with a towel and use a long spoon to turn the knob to release). Carefully remove the steamer basket. Empty the IP of the liquid and wipe dry.
Set to Sautee, add the oil in the IP till hot, add the garlic, onion, lemongrass, ginger and stir fry until fragrant. Add the seasoned beef, sautee the beef until brown on all sides and to seal the flavors.
Add the tomato paste, star anis and cinnamon, paprika and chili powder. Cook for about 5 minutes
Add the coconut water, sugar, soy sauce, water mixed with the beef cube, stir well. Add extra water if necessary to just cover the beef.
Close and lock cover. Set the knob to seal. Set to pressure cook for 23 minutes (if using brisket, add 5 minutes). Let the steam naturally release for 20 minutes, then safely turn the knob to release.
When steam is all released, open the cover. Turn off keep warm function and set IP to Sautee function to boil the broth. Skim any fat on the surface, add the carrots and taste and adjust the flavor as per your family preference, by adding a little sugar, or 1/2 beef cube, if too bland. If you like the stew to be more concentrated, let it boil (with saute function) for 20 minutes.
To serve, pour the Beef stew in a bowl with a plate of crusty French bread to dip or prepare bowls of cooked rice noodles, and ladle the beef stew over them (make sure that the stew is boiling hot). Sprinkle coriander and sliced onions on top. Serve with a plate with fresh basil, wedges of limes and sliced chili. Enjoy while still piping hot.