Pat the shrimp dry using paper towels.
Place shrimp in a large bowl.
Season with salt, pepper, smoked paprika, garlic powder, and chili powder.
Toss until evenly coated.
Heat olive oil in a large skillet over medium-high heat.
Add shrimp in a single layer without overcrowding.
Cook for 90 seconds.
Flip and cook another 90 seconds until opaque and lightly caramelized.
Reduce heat to low.
Add butter, lime zest, lime juice, and honey.
Toss continuously until the butter melts and the sauce becomes smooth.
Simmer for 2–3 minutes until the honey lime sauce thickens and coats the shrimp.
Remove from heat and stir in chopped cilantro.