If it is a colder water species, keeping it in its ideal temperature range will not necessarily lengthen its life, but keeping them in warmer water will definitely shorten it. Therefore, if keeping a bimac in 65 degree water, it will live longer than a bimac in, say, 75 degree water. California waters (where bimacs are from) are generally between 58-68 degrees year round.
I'm sure keeping a warm water octopus in cold water is probably not healthy for it. Plus at colder temperatures, they are much less active.