NO

Take a look at the Episode 3. They Plot a course from Tatooine to Alderaan. Then there are a few sceenes inside the Falcon. After some time they apear In the Alderaan system.

Or take a look at Phantom menace ( Episode 1  ) They take of from Naboo and want to go to coruscant. On their way they have to drop out of Hyperspace at the closest planet.

So to conclude it isnt instantenious. Some time does pass while they are traveling from A to B.

NO

Take a look at the Episode 4. They Plot a course from Tatooine to Alderaan. Then there are a few scenes inside the Falcon. After some time they appear In the Alderaan system.

Or take a look at Phantom Menace (Episode 1) They take of from Naboo and want to go to Coruscant. On their way they have to drop out of Hyperspace at the closest planet.

So to conclude it isn't instantaneous. Some time does pass while they are traveling from A to B.