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Add coconut milk and coconut sugar in the instant pot and stir. Set the IP to saute and high.
Let the mixture bubble and begin to brown for 10-15 minutes. Press cancel and add vanilla and salt. Allow the caramel to cool and thicken for another 20 minutes.
Remove from pot and add to a glass container. Let cool and store in fridge for up to 2 weeks.
Reheat when ready to serve!