Add beef chunks to a large bowl, sprinkle flour, salt, and pepper onto it. Stir to combine.
Turn on the Instant Pot and select Sauté. Once Hot add oil to the pot.
Once the oil is hot, cook the beef in batches 2-3 minutes on each side until nice and brown.
Remove the beef from the pot, cover with foil and set aside.
Add the water to the IP to deglaze it, and using a wooden spoon scrape well the bottom of the pot to remove any bits that stuck to it, make sure you scrape it well to avoid burning during cooking.
Add the chopped onion and cook for 1 minute, add the garlic, stir and cook for 1 minute.
Add salt, pepper, dried rosemary, thyme, marjoram, and red pepper flakes. Stir to combine.
Then, add tomato paste, Worcestershire sauce, brown sugar, and beef broth. Stir to combine.
Next, add the beef back to the pot, followed by chopped carrots, mushrooms, potatoes, and pearl onions if using.
Make sure you don't go over the Max line of your pot.
Add a bunch of fresh thyme on top.
Close the lid and seal the valve. Cook for 35 minutes on High Pressure. Once the Instant Pot beeps, do a 15 Minute Natural Pressure Release.
Release manually the remaining pressure.