In a small bowl, combine the garlic powder, onion powder, and salt.
Remove the chicken from the fridge, and pat dry with paper towels. Season with the seasoning mixture and set aside.
In your Instant Pot, heat the butter and sesame oil using the sauté function. Add the chicken thighs, and sear for 4-5 minutes until golden brown. Flip the chicken, and sear the other side for 4-5 minutes. Remove the chicken from the Instant Pot and set aside.
In a small bowl, stir together the honey, ketchup, soy sauce, and ginger. Pour it into the Instant Pot, and scrape the brown bits at the bottom of the pot to prevent the burn notice.
Press “cancel” on the Instant Pot.
Add the chicken back to the pot and toss in the sauce.
Close the lid and turn the venting knob to “sealing”. Pressure cook on high for 15 minutes.
Once 15 minutes is complete, allow for a 5-minute natural release. Release the pressure using the venting knob, and remove the chicken from the Instant Pot, reserving the liquid at the bottom of the pot.
Allow the chicken to rest for 5 minutes, then pour the sauce over the chicken, garnish with sesame seeds, and serve!