I came to Malaysia in 2018 at age 66. I had done research and visited Malaysia many times since the 1990's and became enamoured with the culture and nature of the Bornean states of Malaysia, Sarawak and Sabah. I had spent time in other areas of SEAsia and the globe and decided that when I retired I would move to Sarawak. It's a multi-racial, multi-religious society with all mod-cons in the major cities but also close to village and kampong lifestyle, beaches, forests, rivers, wildlife, caves, waterfalls, parks, dive sites, etc. It's outside the ring of fire (no earthquakes, volcanos, tsunamis)...and just outside the typhoon zones. So there are occasional heavy rains and some local flooding, but no serious natural disasters....well except for covid.
On that, the fact that Sarawak is on an island and could restrict air-travel reduced the COVID-19 caseloads. Compared to the rest of Malaysia and SE Asia the state has largely escaped the high peaks. Almost the entire adult population is now fully vaccinated and about 1/2 the under 18. Many people have their booster. There is still difficulty getting into Malaysia, and into Sarawak without being fully vaccinated and going through either quarantine or a Travel Bubble.
Sarawak have a program similar to the MM2H, called Sarawak My Second Home but more affordable and flexible...with the proviso that it is mainly for retirees (those over 50 and who are not intent on working IN Malaysia). At the time they required a sponsor but have now expanded that to allow a local (Sarawak) agent. One can EITHER demonstrate that one has sufficient overseas income/pension (about US$1700/month for a single; US$2000 for a couple) OR one can place in an interest bearing Fixed Deposit about the equivalent of US$37500 (single)/US$75,000(couple).
There are some options for those under 50 in the S-MM2H provided they can meet the above provisions... a) if you are over 30 and your kids are enrolled in a Sarawak International school (Cambridge curriculum), or b) if you are over 40 and you purchase a residential property worth @ US$150,000.
Obviously one advantage is that one can buy residential property in Sarawak (the minimum is that @$150K). One can get a 5 year, ten year renewable visa and if one resides 152 days one can become a tax resident. For some nationals that allows a reduction or elimination of some taxes from back home (not the USA though). As mentioned one cannot work in Malaysia without specific government permission, which is a hassle for both the applicant and the employer. But one can work abroad
Only a 15 day a year residential requirement.