In a medium pot over medium heat, place the water, corn kernels and cobs, cilantro, onion, garlic, potato, cumin, paprika, salt and pepper. Cover and simmer for 20 minutes.
Add the coconut milk and cook for 10 minutes more. Discard the corn cobs, and then puree the soup in a blender until smooth. Transfer the soup back to the pot and bring to a boil, turn the heat off and serve.
For the shrimp: Rub the shrimp with paprika, cumin, salt and pepper. Place in a sauté pan with 1 tablespoon olive oil, cook about 2 minutes on each side and top each bowl of soup with 3 shrimp.