In a large bowl, combine the olive oil, lime juice, chili powder, garlic powder, smoked paprika, ground cumin, honey, salt, and pepper. Mix well to create a marinade.
Add the shrimp to the marinade, making sure they are all coated evenly. Cover the bowl with plastic wrap and marinate in the refrigerator for at least 30 minutes (up to 2 hours for more flavor).
Preheat your grill to medium-high heat. If using wooden skewers, soak them in water for 30 minutes to prevent burning.
Thread the marinated shrimp onto the skewers (around 4-5 per skewer) and discard any leftover marinade.
Grill the shrimp for about 2-3 minutes on each side or until they turn pink and opaque. Make sure to keep an eye on them as they cook quickly!
Once cooked, remove the skewers from the grill and let them rest for a minute.
Serve the grilled shrimp garnished with fresh cilantro and lime wedges on the side.