Rinse garbanzo beans thoroughly. Add garbanzos and water to Instant Pot.
Set Instant Pot on high pressure for 35 minutes, close valve and start.
When the timer beeps, allow the pressure to release naturally for at least 20 minutes. Then, turn the valve to vent.
Allow the beans to cool, then drain. Set aside 2 cups of the cooked garbanzos. (Store the remainder in a sealed container in the fridge for up to 4 days or freeze for up to 6 months.)
Make seasoning mixture: In a small bowl, combine paprika, salt, cayenne pepper, thyme and garlic powder.
Heat the air fryer to 400ºF, add the 2 cups cooked garbanzos and set timer to cook for 12 minutes.
Halfway through, at 6 minutes, open the air fryer, spray beans with cooking spray, and shake.
Close and resume cooking for remaining 6 minutes.
Transfer garbanzo beans to a bowl and sprinkle with half of the seasoning mixture, mixing to coat completely.
Transfer back to air fryer and cook for an additional 3 minutes at 400ºF.
Transfer back to bowl and mix in the remaining seasoning mixture while the beans are still hot.
Serve as a snack or use as a crunchy topping for salads.