I was just in Kochi for a week, I think it's around 8 to 10 hours south of Goa, so I would assume it's not that different-- the expat community isn't as large though. It's also on the water, and is very lush and tropical. We never actually made it to the beach though.
Kochi has a very relaxed pace, except perhaps behind the wheel. People are very warm and smile right back at you, the food is wonderful (if you like vegetarian Indian fare, plus there's plenty of fresh fish) and there's a western style cafe in town that makes great cakes, coffee, and chai.
We were there visiting a friend who has retired there under circumstances not unlike those suggested by this thread.
Cost of living is very favorable in Kochi, at least as a guest eating out and taking taxis etc. Land and labor are affordable as I understand it-- our friend (Fletcher, oddly enough) built a beautiful home there with a lot of handcrafted, very ornate wood work.
I'd go back in a heart beat.