Prepare your Instant Pot or other electric pressure cooker for use.
Dice your onion into small pieces. Put into pressure cooker bowl.
Add your dried black-eyed peas to the pressure cooker along with the salt, pepper, garlic powder, broth and water.
Put the lid on your pressure cooker and close. Set your pressure regulator valve to sealed.
Cook on high pressure for 15-20 minutes.
Let the pressure naturally release for 15 minutes, then manually release the remaining pressure.
Stir and enjoy!
If you need to add additional seasonings, add them to taste.
If additional cooking time is needed, cook for another 3-5 minutes. I recommend not to exceed the 20 minutes of cooking on high pressure.