Remove the silks from the cob, but leave the husk intact. Brush the corn with olive oil.

Heat the grill to medium-high. Grill the corn often, turning on the hot grill until it starts to get slightly charred around the whole ear for about five minutes. Continue cooking and turning the corn until it is slightly softened to the touch.

In a separate bowl, add the softened butter, mayonnaise, garlic, cilantro, and lime juice until thoroughly mixed. When the corn is finished, brush with the butter mixture, top with the cheese, and sprinkle with chili powder and salt. Garnish with the remaining cilantro. Serve immediately with extra salt.