Create the sauce by whisking together the beef broth, red wine, hoisin sauce, garlic, allspice, cinnamon, and five spice powder (if using). Set aside.

Lightly rub the short ribs over with kosher salt and black pepper.

Hit Sauté and Adjust so it’s on the More or High setting. After two minutes of heating, working in batches, sear the short ribs for one minute on each side and set aside.

Add about 1/2 cup of the sauce to the pot and stir, scraping up any browned bits from the bottom. Once the bottom is clear, hit Keep Warm/Cancel to turn the pot off.

Add the onion wedges, rounded side down, then rest all the short ribs on top of the onion and pour the remaining sauce on top.

Secure the lid, move the valve to the sealing position, hit Keep Warm/Cancel, and then hit Manual or Pressure Cook on High Pressure for 45 minutes. Allow a 15-minute natural release when done, followed by a quick release.

Meanwhile, combine the cornstarch with 1/4 cup cold water to form a slurry and set aside.

Carefully remove the ribs from the pot (they will be tender and prone to falling apart) and place in a serving dish. Hit Keep Warm/Cancel followed by Sauté and Adjust so it’s on the High or More setting and bring the sauce to a bubble. Add the honey and the cornstarch slurry, stirring immediately. Let simmer for 30 seconds before hitting Keep Warm/Cancel to turn the pot off. Let stand five minutes.

Pour the sauce over the short ribs and serve with some bread to sop up the extra sauce.