Heat butter and olive oil in a large pot over medium heat for about 1 minute. Add your diced onion and cook for 3-4 minutes, stirring occasionally, until it softens and turns translucent. The butter should be foamy and smell nutty—that's when I know I'm ready for the next step.
Stir in minced garlic and cook for just 30 seconds, watching carefully so it doesn't burn. Add your diced potatoes and thyme, then stir everything together for about a minute. You'll see the potatoes start to coat in that buttery garlic mixture—looks good already.
Pour in the chicken broth and bring everything to a boil, then reduce heat to medium and simmer for about 12-15 minutes. The potatoes should be fork-tender by then, almost falling apart. I always go 15 minutes because I like them really soft in my summer corn chowder family version.
Add the corn kernels and stir well, letting them cook for 2-3 minutes. The soup will look a little thin at this point—don't panic because it thickens up fast once we add the cream. I once got worried mine looked too watery and almost added extra flour, but I'm glad I didn't.
Pour in the heavy cream slowly while stirring constantly, then add the shredded cheese and stir until it melts completely. Season with salt and pepper, then taste and adjust—this is where the magic happens. If it needs more salt, add 1/4 teaspoon at a time because you can't take it back.
Let it simmer for 2 more minutes until everything's heated through and silky. The whole pot should smell like summer corn and butter, and your family will definitely smell it from the living room.