Place trivet in Instant Pot. Place all 8 3-inch ears of corn on top of trivet, stacking corn only if necessary.
Pour 1 cup water into Instant Pot, then secure lid on pot with valve in sealing position.
Set Instant Pot to Manual High Pressure for 1 minute. Instant Pot will pressurize, then cook time will begin.
When 1-minute cook time is up, carefully Quick Release pressure. Remove lid and set aside. Use tongs to carefully transfer corn from Instant Pot to large bowl and set aside.
Carefully remove trivet from Instant Pot and discard remaining water. Return Instant Pot insert to Instant Pot.
Set Instant Pot to Sauté mode with low heat, then add ½ cup unsalted butter, ¼ cup honey, and 1 teaspoon salt. Stir until butter has melted and mixture is smooth and fully combined.
Return corn to Instant Pot, working in batches as needed. Use tongs to roll and flip corn in honey butter glaze, coating corn on all sides. Transfer corn to serving plates or serving bowl and repeat with any remaining ears of corn if needed.
Once all cooked ears of corn have been coated in honey butter, serve corn warm with desired entrées.