Prepare an 8-inch springform pan by greasing it and lining the bottom with parchment paper. Add one cup of water to the bottom of the Instant Pot and set aside.
Add the vegetable oil, applesauce, eggs, and buttermilk to a large mixing bowl and whisk to combine.
Into a separate bowl, add the cornmeal, flour, salt, baking powder, baking soda, and cheese, stirring well to combine.
Add the dry ingredients to the wet ingredients and stir well until everything is combined and no streaks of flour remain.
Pour the batter into the prepared pan and cover with two layers of aluminum foil, covering the pan very tightly.
Lower the pan into the Instant Pot using a trivet to keep the bottom of the pan from touching the bottom of the Instant Pot directly.
Add the lid, set the valve to sealing, and set the Instant Pot to pressure cook for 50 minutes on high pressure.
After the pressure cooking time is up, let the Instant Pot release pressure naturally for 10 minutes. Then release the rest of the pressure manually and remove the pan from the Instant Pot.
Immediately remove the aluminum foil from the top of the pan and let the cornbread cool completely before slicing and serving.
Video
Notes
Store this cornbread in an airtight container for up to 3 days at room temperature, or freeze in an airtight container for up to 3 months.