Scrub and rinse potatoes, cut the potatoes into small cubes (I let the skin on the potatoes, but it is completely up to you).
Add potatoes inside the bottom of the instant pot (I used a basket inside the instant pot, but it is completely optional).
Add water and salt, place the lid on the instant pot and turn the valve to seal.
Cook on high pressure for 8 minutes (turn the keep warm off).
Quick-release right away (turn the valve to vent).
Drain the potatoes and return to the instant pot ( if you did not use a basket inside the instant pot, leave the liquid inside the instant pot)
Add cream cheese, butter, garlic powder, onion powder, black pepper, salt (if needed), milk, and parmesan cheese and mash until smooth.
Serve topped with more butter and freshly grated parmesan cheese.