Preheat broiler and adjust oven rack to 5 inches from the broiler element.

Line a baking sheet with foil.

Brush corn with olive oil on all sides.

Transfer corn to the prepared baking sheet.

Broil corn until browned on one side (about 10 minutes).

Turn corn over and broil until browned on the other side (about 10 minutes).

While the corn broils, combine mayonnaise, cilantro, lime juice, garlic, chili powder, and salt in a bowl.

Stir in the cheese until uniform.

Remove the corn from the oven.

Brush corn on all sides with the mayonnaise mixture.

Return the coated corn to the broiler.

Broil until the cheese coating is warm and slightly brown (about 1 minute).

Season with salt and pepper to taste.

Serve immediately with lime wedges.

Serve with any remaining mayo mixture.