So nothing easy then
It seems it's trying to find that file in /home/combed5/public_htmllocalhost so somewhere the internal host name (localhost) is getting used as the path to that file, but the path for that (set in lib/init/initlib.php:65) so should be
TIKI_PATH . '/db/config'
Most mysterious - was this installed from a zip of from svn? (zip i guess) And do you have shell access on that server? (i'd guess not).
Again, i suggest you join us on IRC as others may have better suggestions?