I have not had to manage moisture in compressed air in a high humidity area as you are in. If I were in your position, I would put in place some sort of aftercooler, or device to cool the air to get the moisture to condense. Then, I would place some sort of mechanical separator such as a centrifugal type coupled with a lower velocity mist separator after to manage and remove entrained particles that make it through the higher velocity. That may remove enough moisture prior to the chemical or desiccant filter it sounds like you are using prior to the cutter.
One other thing, What is the CFM rating on your compressor compared to the air consumption demand? It gets really hard to remove moisture from the air effectively if you are using it at a rate close to what the compressor can put out. Some things that can help are multiple compressors manifolded into the system, and a larger air reservoir to "buffer" the consumption.
Talk to an industrial compressor sales expert in your area, they should be able to help you with some location specific methods that will work for you. They usually will not charge you for a consultation, and they may have some "simple" suggestions.
Just some thoughts from my experiences.