Heat canola oil; add beef and cook until beef has browned, about 3-5 minutes, making sure to crumble the beef as it cooks. Drain excess fat and set aside.
Add garlic, onion, bell pepper and chili to the Instant Pot®. Cook, stirring occasionally, until tender, about 4-6 minutes. Stir in tomato paste, chili powder, paprika, oregano, cocoa powder and cumin.
Stir in beer, scraping any browned bits from the bottom of the pot.
Stir in beef stock, tomato puree, black beans and ground beef; season with salt and pepper, to taste. Select manual setting; adjust pressure to high, and set time for 18 minutes. When finished cooking, quick-release pressure according to manufacturer’s directions.
Stir in cilantro; season with salt and pepper, to taste.
Serve immediately, garnished with sour cream and cheese, if desired.
Notes
Lean ground beef is ideal. The ground beef should have some fat. For example, 80/20 or 85/15 are both excellent options. Extra lean meats can be drier (and blander).
Cocoa powder is key here. Cocoa powder is a common secret ingredient used in chili, adding a layer of depth and richness. Always use unsweetened cocoa powder to avoid adding unnecessary sweetness.
Deglaze the pot. Use a wooden spoon to scrape up all the browned bits stuck to the bottom to prevent the dreaded burn notice.
Use beer. The lager or pilsner beer here will add so much more flavor, acidity, texture and tenderness to the chili.
Use good-quality stock. The better quality your stock, the better your chili. Many brands love to pack in the salt so always opt for unsalted or a lower-sodium variety.
Make it thicker. For a thicker consistency, simmer the chili using the sauté function for 5-10 minutes.
Add garnishes. Garnishes are always optional but a fresh sprinkle of cilantro or some shredded cheese will certainly take your chili to the next level, adding more flavor, texture and contrast.