Presoak beans for 4 hours. If you don't want to presoak the beans then cook time in pot should be 1 hour and 15 minutes to 1 hour and 30 minutes depending on elevation and humidity. This is for a 6 quart instant pot.
Set pot to saute mode. Add olive oil. Add diced onion and stir. Add in sausage and brown on both sides.
Add in bell pepper, jalapeno, and celery cook for about 3 minutes. Turn off saute mode. Add in ham, beans, paprika, cayenne pepper, salt, pepper, garlic, and bay leaves.
Add in chicken broth and water. Stir well. Place lid on the pot. Set valve to sealed. Click pressure cook (some models it's manual) and set to 45 minutes. Once the instant pot stops counting release the pressure.
Remove sausage and chop. Place back into the pot and stir well. Taste test to see if it needs more salt or heat. Taste test beans if you didn't pre soak. If beans are still hard then reset pot and add more time. If you presoaked they should definitely be done in 45 minutes.
Rice may be precooked in your instant pot or you can cook on the stove.
Fill a bowl with red beans and top with a ice cream scoop of rice.