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Add uncooked rice to a fine-mesh strainer or a colander. Rinse and wash under running cool water until it runs clear, scrubbing the rice in between your hands several times, about 1 minute. Shake and lightly press to drain. If you prefer not to rinse the rice, go to the next step directly.
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Add rice, water, salt, and olive oil to the cake pan. Use 1.25 cup water if the rice is rinsed; use 1.5 cup water if the rice is not rinsed. GIve it a stir and tightly cover it with foil paper. Carefully transfer it to the air fryer basket.
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Air fryer at 300 °F (149 °C) for 30 minutes. After that, unplug the air fryer machine but let the rice sit inside of the air fryer basket for 15 minutes before removing the foil paper. Do not peek underneath or remove the foil paper during that time, because the hot steam will continue to cook the rice, and the rice grains will continue to absorb the remaining water.
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Carefully remove the cake pan with oven mitten. Fluff the rice with a fork or a rice paddle and serve.