Hey, welcome to Permies!
I think you're on the right track!
You point out that you're going to make sure the wall has "good boots and a good hat", as in a good overhang to be protected from the rain and a non wicking foundation.
A metal flashing would also be a barrier that breaks wicking I think.
I don't know about the specific climate you're talking about. But structures made from these materials exist around the globe and deal with almost all climates. So I wouldn't know why it wouldn't be a good choice for your climate.
Termites etc. I can't comment on.
On the inside walls you could use clay plaster instead of lime. That would be even more breathable. If going with lime, there's different types. If you only aplly thin layers (<1/4") calcium hydroxide is an option. If you go thicker, and on the first layer you might have to, you would probably want to ad some hydraulic lime.
What is the part of not using inside heating about? If anything the heat can help you with moisture problems.
