Preheat your grill to medium-high heat. Shuck the corn and brush it lightly with melted butter to prevent sticking and enhance flavor. Place the corn directly on the grill grates and cook, turning occasionally, until kernels are charred in spots and kernels are tender, about 10-12 minutes. You should hear a gentle sizzling and see beautiful blackened spots.
While the corn is grilling, prepare the sauce by mixing mayonnaise, lime juice, chili powder, and a pinch of salt in a small bowl. Whisk until smooth and well combined. Crumble the Cotija cheese into another small bowl for easy sprinkling later.
Once the corn is grilled to perfection with a nice smoky char, transfer it to a serving platter. Use a basting brush or spoon to generously slather the hot, charred corn with the creamy sauce, working quickly so it sticks and melts into the kernels.
Sprinkle the crumbled Cotija cheese evenly over the coated corn, allowing it to stick to the sticky sauce. Follow with a sprinkle of chili powder for a bit of heat and extra flavor.
Finish by garnishing with freshly chopped cilantro and a final squeeze of lime juice. The bright herbs and citrus add freshness and balance to the smoky, cheesy flavors.
Serve immediately while the corn is still warm and the sauce is sticky and flavorful. Enjoy with messy fingers and a big smile—this street corn is best enjoyed fresh!