Add 1 cup water to the Instant Pot and place metal steam rack in the pot.
Using kitchen shears, cut open the top of each lobster shell lengthwise. Optional: pry apart the shell and pull the meat up and out of the shell.
Place lobster tails on the steam rack.
Secure the lid and cook on low for 3 minutes.
After cooking, quick release the pressure.
Serve the lobster with melted butter and lemon or use lobster as part of another recipe/dish.