There are always issues with living anywhere, including all of the popular expat haunts of KUL, PEN, DPS, CGK, BKK, HKT, MNL, CEB and SIN. Numerous people have tried them all, with varying success at different stages in their expat career. It is definitely a case of buyer beware, and be prepared to accept the frustrations of living in any of these places.
You should first consider carefully all the reasons why you feel the need to leave HKG. It is probably one of the easiest cities in the world to live-in, with good schools/Universities, hospitals, transport, rule of law, and weather seasons (not just hot/dry and hot/rainy).
My wife is from one of these places and we have seriously considered a move several times over the years, but we will probably leave it until late in my career as a half-way step toward retirement in the region.
If you are seriously interested in Penang, then talk to our Malaysian cabin crew. There are numerous PEN ISM's and SP's who would be happy to discuss the issues with long term regional commuting, property, schools and the typical expat frustrations. Just check-out the language skills described on your crew list and seek out the crew with the "MS" code.
There are quite a few retired Cx people who are in Malaysia, both KUL and PEN. In addition there are at least 3 F/O's who semi-commute to Malaysia. Just ask around on the airbus and 777 and you will find them. Good luck!
