Rinse the dried beans and remove and discard any debris. Place beans in an Instant Pot along with the water, ½ teaspoon smoked paprika and ½ teaspoon salt. Set the lid on the pot with the valve set to ‘seal’.
Set on manual high pressure and cook for 30 minutes. Let the pressure release naturally for 10 minutes, then manually open the valve to release the remaining pressure. Drain the beans, reserving 2 cups of the bean broth, and set aside.
Meanwhile, in a large Dutch oven, heat olive oil over medium heat. Add onion and cook, stirring often, until softened, but not brown, about 7 to 10 minutes. Add garlic and cook for an additional 30 seconds, or until fragrant.
Add remaining smoked paprika and salt, then add cooked beans. Add 1 cup of the reserved bean broth and reduce heat to low. Cover and cook for 6 to 8 minutes, stirring occasionally, until the beans begin to break down. Using a potato masher, mash the beans directly in the pot. Add ½ cup more bean broth at a time and continue to cook until the beans are creamy, 3-5 more minutes
Remove from heat and enjoy.