Add sliced flank steak to a zip-top bag with 1 tbsp cornstarch. Shake until evenly coated.
Turn Instant Pot to Saute and add oil. Once hot, add beef in batches. Sear for 2–3 minutes, stirring occasionally, until lightly browned (do not overcrowd). Remove beef and set aside. Turn off Saute mode.
Add soy sauce, water, brown sugar, rice vinegar, garlic, ginger, and red pepper flakes to the pot. Stir well, scraping the bottom to remove any browned bits.
Return beef to the pot and stir to coat in sauce. Seal lid and set valve to Sealing. Cook on High Pressure for 8 minutes. Allow a 10-minute natural release, then carefully release remaining pressure.
Turn Instant Pot to Saute mode. Stir in cornstarch slurry and simmer for 2–4 minutes, or until sauce thickens and becomes glossy.
Serve over rice and garnish with green onions and sesame seeds.