In a medium bowl, combine the softened butter, chili powder, smoked paprika, lime juice, honey, minced garlic, chopped cilantro, and sea salt. Mix thoroughly until all ingredients are well incorporated. For extra smoothness, use a food processor to pulse the mixture for 30 seconds. Transfer to a small bowl and refrigerate for 10 minutes to allow flavors to meld while you prepare the corn.
Peel back the husks of each corn ear without removing them completely (they'll act as natural handles). Remove all silk strands carefully. Brush each ear lightly with olive oil and sprinkle with kosher salt, ensuring even coverage on all sides.
Heat your grill to medium-high heat (around 400-425°F). If using a charcoal grill, arrange coals for indirect cooking, which reduces the chance of flare-ups.
Place corn directly on the grill grates. Rotate every 2-3 minutes until all sides show grill marks and kernels become tender, about 10-12 minutes total.
Remove corn from grill and immediately brush with generous amounts of the prepared chili butter. The residual heat will melt the butter perfectly, allowing it to seep between kernels for maximum flavor absorption.