Phuket is rated globally as one of the best retirement places not only in terms of a lower cost of living but also because of the high standard of healthcare and infrastructure. There are innumerable restaurants in Phuket, and in them you can find any cuisine you can possibly imagine. Some specialize in international cuisine, such as French, Italian, and Spanish, not to mention classic American cuisine.
Naturally, there are a great many restaurants which offer traditionally Asian delicacies. There are restaurants which serve authentic Japanese food, restaurants which specialize in traditional Chinese fare, and of course there are restaurants which offer the best of Thai cuisine. There are also many locally owned shops, as well as more upscale stores, and a lot of charming, local markets dotted around the area. Travel is easy, there is always transportation off the island and onto the Thailand proper.
Any foreigner will love living in Phuket, whether they are purchasing a condominium there, buying a second home, or retiring in absolute bliss. The people of Phuket are some of the friendliest you will find in Thailand, and there are massive opportunities for foreigners, in both the job markets and in real estate. Living there is inexpensive and generally stress free; between the strong economy, the divine weather, and the amenable people, it will really feels like paradise.