Place a pan on the stove over medium heat. Add olive oil, onion, garlic, cumin, chili powder, smoked paprika and a pinch of salt and pepper. Sauté until onions begins to soften (approx. 5-7 minutes), stirring regularly.
Add cream cheese to the pan and sauté for an additional 1-2 minutes, or until cream cheese is softened and everything is combined.
Place the contents of the pan and 1 habanero in a blender with cilantro and 1/4 cup of water. Pulse until combined. Add additional water if needed and taste to adjust seasoning.*
Place in an airtight container and keep in the fridge until ready to use. Will last 5-7 days.
Notes
*When you taste the sauce, this is when you will decide if you want to add an additional habanero and/or more salt & pepper. If you add anything to the blender, pulse again until combined.