In a medium bowl, add cocoa powder, sugar, and salt. Whisk to combine.
Add cocoa mixture and water to the instant pot. Whisk to combine.
Set instant pot to the “sauté” setting. Continue whisking until the mixture thickens and becomes bubbly, about 4 to 5 minutes.
Add in the oat milk and coconut milk, mixing again until it becomes creamy and warmed throughout.
Add chocolate chips and stir until melted. Don’t allow mixture to boil.
Serve hot chocolate in mugs with your favorite toppings! Toppings may include: mini marshmallows, crushed peppermints or candy canes, chocolate chips, whipped cream, crushed Oreos, or shaved chocolate.
Notes
For parties or tailgates, use the "keep warm" setting on your instant pot to keep the hot chocolate warm over a period time. Use a ladle to serve hot chocolate right from the pot.
Make sure to use baking cocoa and NOT hot cocoa mix! Hot cocoa mix already has sugar in it and baking cocoa does not.
This recipe as written is dairy free for a lighter, healthier version of hot chocolate. However, if you prefer, you can use regular milk or almond milk instead of oat milk and heavy cream in place of coconut milk.
For adults, add a splash of peppermint schnapps for a boozy peppermint hot chocolate! Or, for both adults and kids, you can slightly reduce the sugar in the recipe and use a splash of pumpkin simple syrup for a pumpkin spiced hot chocolate.