Not at all the same vibe, but the John Dies at the End series by David Wong (Jason Pargin) is technically cosmic horror. And extremely funny.
ETA: As someone who also would have been hated on by Lovecraft, I am happy to have been able to read his works while they are open domain and he doesn't benefit from it. I have weird feelings about his works, but I do like the melancholy atmosphere he's able to create. My favourite is the Shadow over Innsmouth, which is ironic since it's basically a fable on the horrors of race mixing while I happen to be biracial.