Air–sea exchanges play a crucial role in intense weather events over Sri Lanka, particularly by providing the heat and moisture that fuel heavy rainfall. We present a year-round dataset of meteorological observations from the southern shoreline of Sri Lanka in the equatorial Indian Ocean for 2017, aiming to investigate its seasonal characteristics and evaluate the performance of reanalysis data in this region. The observations reveal distinct diurnal and seasonal patterns. During the winter and spring, higher shortwave (646.2 W/m2) and longwave radiation (−86.9 W/m2) are coupled with higher temperatures (30.6 °C) and lower humidity (67.4% at noon). In contrast, the Indian summer monsoon period features reduced shortwave (579.8 W/m2) and longwave radiation (−58.6 W/m2), lower temperatures (29.2 °C), higher humidity (over 79.7%), and stronger winds (6.25 m/s). The observations were compared with the ERA5 reanalysis dataset to evaluate the regional performance. The reanalysis data correlated well with the observed data for the radiation, temperature, and sensible heat flux, although notable deviations occurred in terms of the wind speed and latent heat flux. During the impact of Tropical Cyclone Ockhi, the reanalysis data tended to underestimate both the wind speed and precipitation. This dataset will provide vital support for studies on monsoons and coastal atmospheric convection, as well as for model initialization and synergistic applications.