Generously salt and pepper chicken breasts. Add oil and butter to Instant Pot, select SAUTE. When butter is melted, brown the chicken breasts. Remove to a plate.
Add the onion to the Instant Pot, and cook, stirring occasionally until the onion is tender, about 5 minutes. Stir in chicken broth, salt, pepper, red pepper flakes, and parsley. Add browned chicken breasts.
Cover and lock lid in place. Select HIGH PRESSURE and 5 minutes cook time. When timer beeps, turn off, and use a quick pressure release.
Remove chicken to a cutting board and cut into bite pieces.
In a small bowl, dissolve arrowroot in 2 tablespoons water. Select SAUTE and add arrowroot mixture to the pot, stirring constantly.
Add coconut cream and stir until combined.
Add diced chicken and steamed broccoli. Select SAUTE for 5 minutes until broccoli and chicken are heated through.