Sweetened condensed milk transforms into a rich, deep-amber caramel right in the jar, no stovetop babysitting required. The Instant Pot's steady pressure does all the work, coaxing out that glossy, spoon-clinging texture over a slow, even cook. A touch of sea salt and vanilla rounds out the flavor, giving you a caramel that's equally good drizzled warm over dessert or swirled into your morning coffee. Once it's whisked smooth, you get that classic thick, pourable-to-spreadable consistency depending on how long you let it cook. It's an easy make-ahead treat to keep stashed in the fridge, and a solid pick for a lactose free kitchen.
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Pour the sweetened condensed milk into a clean pint-sized wide-mouth jar. Stir in the salt and vanilla, if using. Seal the jar with its lid, fingertip-tight — snug but not cranked down hard.
Place the trivet in the bottom of the Instant Pot insert. Set the sealed jar on the trivet and pour in enough water to reach halfway up the sides of the jar (about 2–3 cups). Tear a sheet of aluminum foil and drape it loosely over the top of the jar to prevent condensation from dripping in if the lid seal is imperfect.
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