Put olive oil and garlic cloves in blender or food processor and finely chop.
Pour water in the Instapot center pot, and then add in cashews.
Juice lemon and then add in Instapot with garlic with remaining olive oil.
Add in nutritional yeast, chili powder, and cumin.
Select the pressure cook feature, and cook for 16 minutes on high for large batch and 10 minutes for a smaller batch.
Use the quick release feature to let cool for a couple of minutes.
Sprinkle salt over mixture, then place in blender or food processor and blend until smooth.
Serve with additional herbs and spices per your taste preference.