Heat oil in a large, heavy saucepan over medium heat. Add onion and a sprinkle of salt and pepper and cook until softened and translucent. Stir in corn and garlic and continue to cook, stirring often until corn begins to brown, about 5 minutes
Add broth and bring mixture to a simmer, for 15 minutes. Taste and add salt and pepper if necessary. Using a slotted spoon, transfer 1 1/2 cups of the corn mixture to a blender. Add coconut cream and 1/2 cup of the cooking liquid. Slightly vent the top of the blender and carefully puree until the mixture is smooth, about 2 minutes.
Return the puree to the pan. Whisk in cornmeal and bring the soup to a boil over medium heat while stirring constantly until thickened. Stir in bell pepper, cilantro and cayenne. Serve hot or at room temperature with lime.