Set Instant Pot to Sauté mode, and add ground beef, bacon, and onion. Cook, stirring occasionally until beef is no longer pink. (It’s okay if there is some fat left in the pot.)
Add garlic, stir, and let cook one minute. Add water and Kielbasa sausage.
Add baked beans, kidney beans, ketchup, barbecue sauce, Dijon mustard, molasses, black pepper, chili powder, and paprika. Cancel Sauté mode, place lid on pot, and set valve to ‘Sealing.’
Set to manual mode on high pressure for 8 minutes. When cook time has finished, let pressure release naturally for 15 minutes. Release remaining pressure in short bursts by turning valve to venting (to prevent any sauce from escaping). Once pressure has released, remove lid, serve, and enjoy!
Note: If you get a ‘burn’ message, it’s because the mixture is too thick. Release any pressure that has built up, stir in another 1/4 cup of water and continue cooking as instructed.