In a large mixing bowl, combine flour, instant yeast, salt, and granulated sugar. Mix well to evenly distribute the dry ingredients.
Make a well in the center of the dry ingredients and pour in the warm water and olive oil. Stir until a sticky dough forms.
Cover the bowl with a clean kitchen towel and let it rest for 2 hours at room temperature or until the dough doubles in size.
Then transfer the dough to a lightly floured surface and gently stretch the ends of the dough towards the center, folding it over itself. Repeat this process a few times, then shape into a circular loaf and make a cut in the center.
Line the air fryer basket with parchment paper and then add the bread dough. Let it rest for an additional hour to allow it to rise again.
Preheat the air fryer to 400 degrees F / 200 degrees C and cook for approximately 30 minutes, until the bread is golden brown and cooked through.
Remove bread from the air fryer and let it cool on a wire rack before slicing and serving.