Heat oven broiler. Place jalapeno on baking sheet coated with cooking spray. Broil for about 10 minutes or until blackened and charred, turning occasionally.
Place jalapeno in a small paper bag, and fold tightly to seal. Let stand for 5 minutes. Peel and discard skins; cut jalapeno in half lengthwise. Discard stem, seeds, and membranes. Finely chop jalapeno. If you don't have a paper bag, you can put the jalapeno in a bowl and cover the bowl with plastic wrap before peeling and discarding skins.
Combine jalapeno, lime rind, honey, salt and cayenne pepper in a food processor and pulse a few times until the ingredients come together. Stir into softened butter.
Preheat the oven to 425 degrees. Spread half the butter on the corn cobs and wrap them in aluminum foil. Place the cobs in the oven and roast for 20-25 minutes or until corn is tender.
Once corn is cooked, unwrap the cobs, slather with the rest of the butter, sprinkle with smoked paprika and garnish with cilantro. Enjoy, preferably outside while drinking margaritas!