Turn the Instant Pot on saute mode, and add oil.
Add onion, celery, and bell pepper and cook until onion is soft, about 2 minutes.
Stir in garlic, smoked paprika, thyme, and Creole Seasoning. Cayenne pepper until fragrant.
Add black-eyed peas, vegetable broth, and bay leaves. Place the lid on the Instant Pot and turn the steam knob to Sealing. Press the Manual button and set the timer for 15 minutes.
When complete, allow the Instant Pot to release for 20 minutes naturally. Turn off the Instant Pot, open the lid, stir in the liquid smoke, and season with salt to taste.
You can set the Instant Pot on Saute mode to cook longer if you want a thicker stew.