Line the air fryer basket with parchment paper made for air fryers.
Pour a small splash of water (about 2 tbsp) onto the parchment to create a touch of steam and keep the corn juicy.
Brush the corn evenly with olive oil, making sure all the kernels get a good coating.
Sprinkle over the paprika, then season generously with salt and pepper.
Arrange the cobs in a single layer on top of the parchment.
Air fry at 200°C for 12 minutes, turning once halfway through, until the corn is lightly charred and golden in spots.
Serve hot straight from the fryer with a squeeze of lime, a scattering of coriander, fresh sliced red chillies, and a generous sprinkle of crushed roasted peanuts.