Add water, orange juice, and cranberries to a 6 quart Instant Pot. Pour sugar over the cranberries and add the bay leaf, if using.
Secure the lid and turn the valve to “sealing”. Pressure cook on high for 2 minutes. The Instant Pot will take about 8 minutes to come up to pressure. Once the cooking program has finished, carefully turn the valve to “venting” for a quick release.
Unlock the lid and stir the cranberry sauce. Use pot holders to take the pot out of the Instant Pot and transfer the sauce to a bowl and allow to cool completely. It will thicken as it cools.
Store cooled cranberry sauce in an airtight container in the refrigerator for up to 4 days or freeze for 2 months.
Notes
A bay leaf adds a slight herbal flavor to the cranberry sauce and pairs well with poultry.