Begin by toasting the coconut: add the dry coconut to the pressure cooker to cook over medium heat (with Instant Pot, press the 'Saute' button to begin cooking at medium saute heat). Stir frequently, and watch closely to avoid burning. When the coconut begins to lightly brown, remove half to set aside for the topping, and add the steel-cut oats to toast as well. Cook the oats and coconut for a few more minutes, until both are fragrant. Then add 1 cup coconut milk (reserve the remainder for topping) and the rest of the ingredients. Stir to combine, then cook under high pressure for 2 minutes (with Instant Pot, press 'Cancel' to stop saute mode, then close the lid and press 'Manual' to select 2 minutes).