To your Instant Pot, add oil and turn on to the saute function.
Add in diced onions, celery, and garlic, and saute for 4-5 minutes.
Turn off saute function. Add ham bone and dry beans. Pour water over top. Make sure the ham bone and beans are covered by 2 inches.
Secure lid and make sure that it is in the sealing designation.
Set to 60 minutes cook time at high pressure. It will take several minutes to come up to pressure.
Once done, quick release to depressurize the device. You can also allow the pot to natural release if you prefer.
Carefully remove the ham bone and set to the side to cool. Remove bay leaf, and discard.
Once the ham bone is cool enough to work with, pull off all the meat you can and add it back to the cooked beans.
Stir well, and enjoy!