To prepare the beets, add 2 cups water into the steel inner pot, then place a steamer basket or the wire rack that came with your pressure cooker into the pot. Place the unpeeled beets on top of the rack, then secure the lid, close the pressure valve, press the steam button and set the time for 15 minutes at high pressure.
Open the valve to quick release any remaining pressure.
Once the the beets are cool enough to touch, remove them from the pot. The peels should easily slide off. Place the beets on a cutting board and chop them into small pieces. Set aside.
Dump out any water still remaining in the bottom of the pot, then press the sauté button and add the coconut oil. Once the coconut oil melts, add the mustard seeds. When the mustard seeds begin to pop, add the onion, Serrano pepper, garlic and curry leaves. Stir-fry for 3-4 minutes, or until the onions are cooked through.
Add the turmeric and salt, stir, then add the cooked beets and mix well. Stir in the grated coconut.