The primary focus of this study is to analyze comparative heat transfer in a two-dimensional (2D) multilayered human skin using thermal waves and Pennes' bioheat transfer models. The model comprises the epidermis, dermis, hypodermis tissue, and inner cells, and aims to understand their response to microwave (MW) power and electromagnetic (EM) frequency. The system of equations involves EM wave frequency and bioheat equations and uses the finite element method (FEM) for solving. It encompasses a range of microwave power levels (4-16 W), frequencies (0.9-4 GHz), and exposure durations (0-180 s). It examines how MW power and frequency affect temperature predictions due to different relaxation times. The results are visually represented, illustrating microwave power dissipation, isothermal profiles within the skin tissue, temperature trends at several locations, relaxation times, specific absorption rate (SAR), and the mean surface temperature of the multilayered dermal cell. Thermal analysis shows that Pennes' equation predicts higher temperatures than the thermal wave model of bioheat transfer (TWMBT). A notable disparity in temperature evolution is observed between the two models, especially in high-frequency transient heating scenarios. The TWMBT forecasts a delay in heat transfer, offering valuable insights into the more realistic short-term thermal behavior that the classical Pennes' model fails to capture. This comparative study underscores the significance of selecting an appropriate bioheat transfer model for precise thermal analysis in biomedical applications, such as hyperthermia treatment and thermal diagnostics. The findings emphasize the potential of the TWMBT to enhance the accuracy of thermal treatments in clinical settings.