Hi Robert,
I have been following along, and Dale made the same suggestions I was thinking of...
I am not sure if proximity to the ocean and rain are a reason not us use either a "lite" or "heavy" cob material on the stone. Lite cobb with a lime render is going to add more "insulation" than a heavy cob would.
Cobs in general are found all over the world from the tropics (with over 3 metres of rain a year) to places like Japan that have earthquakes and tsunami force wind/rain.
I like your idea of lime materials yet these are not going to be as "cost effective" (which seems part of this project challenges) as are just clay based encapsulation systems...
I would probably go with 50 mm of mineral wool board, and air space and wood siding before I would choice a lime/hemp since the goal is "insulation" and not just a "cladding system."
My 2¢ for now...

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