In a mixing bowl, whisk together water and pancake mix until completely incorporated.
Grease instant pot springform pan. Pour pancake mixture into pan.
Add 1 cup of water to instant pot and place trivet inside. Place the springform pan on the trivet and close the lid. Seal the pressure release valve closed.
Cook on high pressure for 20 minutes.
Manual release the pressure once finished cooking.
Let pancake sit and cool prior to removing from springform pan.