Set Instant Pot to "Saute" setting and add olive oil. When oil has warmed, add the diced onion and saute for 2-3 minutes until softened.
To the Instant Pot, add chipotle peppers, adobo sauce, chicken stock, Better than Bouillon, green chiles, taco seasoning, and tomato sauce. Stir all ingredients together and turn the Instant Pot off by pressing "Cancel".
Add the chicken thighs to the broth mixture and put the cover back on the Instant Pot. Set the valve to the closed position and press the "Manual" button. Set the timer to cook for 12 minutes.
At the end of the 12 minutes, manually (and carefully) release the pressure from the Instant Pot by turning the valve to the open position. It is best to use a kitchen towel while opening the valve in order to prevent getting any steam burns.
Once the pressure has been completely released, open the lid to the Instant Pot. Carefully, use two forks to shred the chicken into large bite sized pieces. Add the drained hominy and allow to heat in the broth for approximately 5 minutes.
Serve with tortilla chips and lime wedges.