From my historical research on vanishing creams, the main ingredient is not oil but stearic acid. Sodium stearate is formed during processing using a strong alkali. The Indian brand Vicco Turmeric and older Ponds formulations use this method. It is intended for oily skin type and ‘vanishes’ unlike oil based creams. It should have a naturally pearlized look due to the high ratios of stearic acid. <div>
Your formulation is more of a o/w cream and the lipids you have chosen are the most likely reason for the skin feel. Humectants also add tack so perhaps you would improve the sensory feel by reducing the glycerin.
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