Turn your Instant Pot onto the Sauté function. Add the olive oil and chopped onion to the inner pot and cook until translucent. Stir in garlic and cook just until fragrant, then turn off the heat.
Stir in the sea salt, garlic powder, black pepper, sage and thyme.
Add the chicken stock and use your spoon or spatula to scrape the bottom of the pan to make sure nothing is stuck or you could get a burn message.
Add the butternut squash cubes to the pot, then stir to combine. Close the lid and cook on High Pressure for 10 minutes. Allow for a natural pressure release for 10 minutes, then quick release the remaining pressure.
Open the lid and stir to release some steam. Puree the soup until smooth with an immersion blender. Taste and adjust spices. Add more chicken stock to thin, if desired.