Prepare hot dogs according to package directions.
In a medium frying pan, place the ground beef and pour in water. Cook on medium-high heat, using a utensil to occasionally break down the meat. As the meat cooks, the water will evaporate. Continue to cook and break into fine pieces until meat starts to brown.
Add in the diced onion. Sauté until onions start to caramelize and become tender.
Add in ketchup and chili powder. Salt to taste.
Assemble your Coney Dogs:
Place one hot dog in each bun. Top each with chili and sprinkle with shredded Cooper Sharp White cheese. Or, for a little extra kick, you can use Cooper Sharp Black Pepper.