Weather coat, shield are both great products for the tropics. One word of warning in their usage: If you have unprotected (roofed) surfaces make sure you use some serious water-proofing. Take for instance outside stairs - the front of the steps is painted with one of the above and the top of the step, where we walk, is covered in something,tile, stone, whatever. When it rains on the steps the water seeps through and bubbles up on the wall as the paint is waterproof it doesn't let the water that has soaked into the top of the step out of the side. After a few rains the paint comes away.
I've had good experience with the oldest of wall coverings - whitewash, a combination of lime/salt and white cement. It's cheap, hard wearing, cheap, anti fungal (salt/lime) and cheap. Of course it only comes in one color.