In a bowl, combine all the rub ingredients. Whisk until well blended and set aside.
In a bowl, add the pork chunks and pour in 2 tbsp. canola oil, enough to lightly coat. Sprinkle on half of the rub and mix well. Add the remaining rub and toss to coat. On the Instant Pot control panel, press the “Sear/Sauté” setting, and press it again to switch from ‘Medium’ to ‘High’. Add 2 tbsp. oil, swirl it around, and when temperature is reached, it will display ‘Hot’. Working in batches, sauté meat pieces on all sides. Transfer to a bowl while browning the remaining chunks – add more oil if needed. Add onion pieces, jalapeño peppers, and garlic; sauté for 30 seconds. Add orange juice, Coca-Cola, lime juice and bay leaves; stir well, scraping the bottom of the inner pot to dislodge any brown bits. Return the meat, including any accumulated juices, place the lid on, and lock it, making sure the vent knob is turned to ‘Sealing’.
On the control panel, cancel previous function (sear-sauté), and hit the ‘Pressure Cook’; press until it indicates ‘High’. Set the timer for 30 minutes, using the minus/plus button.
When time is up, allow the steam to release naturally for 10 minutes (don’t touch anything else).
When the silver or red float valve goes down, using a folded towel, turn the release handle to let the stem escape.
When there’s no more steam coming out from the top, unlock and remove the lid.
Transfer meat pieces into a large bowl, and shred it using two forks.
Place the shredded meat onto a rimmed baking sheet or baking dish, spreading it out evenly, and add about 1/3 of reserved liquid from the Instant Pot.
Transfer under the broiler and cook for 5 minutes, or until the edges start to caramelize and get crispy.
Remove from the heat, and add 1 cup of reserved liquid. Flip meat over, making sure there is no darker meat facing up, and return under the broiler for another 5 minutes.
When time is up, transfer meat to a bowl, pour on the remaining liquid from the baking sheet/dish and mix well. Serve in tacos, bowls, burritos, quesadillas, or on nachos.