Blend all the ingredients together thoroughly using a whisk, making sure the bananas are mashed up well and the coconut oil isn't in big clumps larger than a pea.

Grease the sides of an 8" spring pan with coconut oil and dust with flour. Lay the bottom of the pan on parchment paper to trace a circle. Cut it out and insert it into the bottom of the assembled cake pan.

Pour the cake batter into the pan.

Insert a steaming rack into the inner pot of the Instant Pot and pour in one cup of water. Then carefully lower the springform pan into the pot.

Put the lid on the Instant Pot, seal up the vent, and cook on high pressure (press Manual or Pressure Cook) and set the timer on the Instant Pot for 60 minutes.

Once the cake has finished baking after 60 minutes, manually release the steam by turning the steam valve. Open the lid, remove the cake, and allow it to cool for another 30 minutes before removing the outer side of the springform pan.

Cool completely (if you can wait!) before eating. It's okay to cut it while it's warm, too. Pairs well with a scoop of vegan vanilla ice cream!