Gather and prep all ingredients. Create the fajita seasoning by combining all of the spices listed. Gently stir together to combine and reserve about 1/2 of the seasoning.

Use the remaining 1/2 of the spices to season the steak strips. Add salt and pepper to taste.

Press the 'saute' mode on the Instant Pot. Once hot, add some of the oil to the bottom of the pot. Brown the steak in batches, never overcrowding the bottom of the Instant Pot. This may take multiple batches to complete. You do not want to cook the steak through, simply brown it to add flavor. Set aside when done.

Keep the Instant Pot on 'saute' mode. Add any leftover oil to the bottom of the Instant Pot, then add in the peppers and onion. Use 1/2 of the unused spice mix (1/4 of the total spice mix) to season the vegetables along with salt and pepper. Saute until onions are soft and fragrant.

Add in the cauliflower rice, then season with the last of the spice mix and salt and pepper to taste. Pour the beef broth over the cauliflower, lightly mix together, then add steak over the top of the vegetables. Set the Instant Pot to cook for 2 minutes on 'manual' mode.

Once ready, use the quick release to release pressure from the Instant Pot.

When ready to serve, garnish with lime and chopped cilantro. Enjoy!