Set the electric instant pot to sauté mode (if using a stovetop pressure cooker, heat it on medium-high heat).
Heat olive oil, add bacon, and cook for a couple of minutes until the bacon starts to brown. Add onion and garlic, stirring often until the onion mixture is translucent.
Add the smoked sausage, soaked and drained beans, bay leaves, paprika, cumin, and salt, and stir well.
Add 6 cups water, mix again, and close the pressure cooker, ensuring the valve position is “sealed.”
Set it to pressure cook for 12 minutes (if using a regular pressure cooker, you will start timing when the steam starts releasing).
After the time is over, let the pressure release naturally for 15 minutes, then carefully do a quick release.
Simmer the cooked beans until the desired thickness is achieved.