Set your Instant Pot to sauté mode, medium heat. Add the olive oil and butter. Once the butter has melted, add the onions and sauté for 3-4 minutes, stirring often. Stir in the carrots and celery and continue to cook for an additional 3-4, stirring often.
Stir in the garlic, tomatoes, Italian seasoning, salt, and black pepper. Mix well to combine and continue to cook for 30 seconds or so before adding the vegetable broth.
Mix in the green beans, zucchini, kidney beans, cannellini beans, and add the bay leaf. Add the macaroni (or other small dried pasta) and mix thoroughly to make sure the pasta didn't sink to the bottom of the pot.
Remove from sauté mode and secure the lid on top of the Instant Pot. Make sure the valve is in the "sealing" position, then set your Instant Pot to "manual". Set timer for 6 minutes and press start.
Remember: it takes about 10-15 minutes for your Instant Pot to reach full pressure and start counting down.
Once the countdown has finished, carefully do a quick release. Carefully remove the lid and stir in the tomato paste. Season with additional salt and pepper, to taste.
Serve garnished with grated parmesan cheese, fresh chopped parsley, and crushed red pepper, if desired.