Excellent area for a ride. I've been down that way regularly as part of a ride to the annual Great Western Bike Rally in Paso Robles. Another hostel along the way is at the Pigeon Pt. Lighthouse a little north of Davenport. I camp on this trip and have the first night's stop at the hike&bike site in New Brighton park in Capitola - there's also a hike&bike site in the Half Moon Bay park. I'd second the suggestion to extend the ride to the south. But if you do get to Monterey at least go a bit farther south to take in the famous 17-mile Drive through the golf courses along the ocean between Monterey and Carmel.