Google Maps: - 41 kms.
There is no easy direct frequent public transport. You would need to get a bus to Lagoa
Timetable here: http://bit.ly/dCuoJq
and then another one to Carvoeiro...
Timetable here: http://bit.ly/cvyb2y
By taxi, prices would start around about € 30.00 each way depending on time of day/night/weekend.