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Steam taro for 20 - 30 minutes until soft. (This can be done in the InstantPot using the Steam function for 15 minutes).
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Smash taro and mix in sugar while taro is still hot. Add sweet potato or tapioca starch and knead to form a ball. Add 1 tbsp water at a time as needed, if the dough gets too dry.
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Divide dough into 4 portions and roll into a thin log. Cut dough into bite size mochi pieces. Dust with sweet potato or tapioca starch to avoid sticking.
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If using red bean, roll it into tiny balls. Flatten each piece of dough and wrap it around the red bean like a dumpling.
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Bring a pot of water to a boil. Add taro mochi to the water and cook until they float.