In a small bowl, add the saffron threads to the warm water and set aside.
Clean and pat dry the chicken. Rub the chicken all over with the adobo seasoning
Select the browning/sauté setting and preheat the pressure cooking pot. Add oil and chicken in batches and brown, stirring occasionally, for 3 minutes per side. Add the peppers and onion and sauté for 3 minutes more.
Add the cumin, oregano, chicken stock, chicken, saffron, rice and stir to combine. Bring to a boil and cook for 5 minutes. Lock lid in place. Select high pressure and 17 minutes cook time.
When timer beeps, let the pressure release naturally. After the pressure is released, open the cooker and fluff the rice with a fork. Add in the cilantro and mix.
Serve and enjoy!