I think your one week vacation will be fine. Keep in mind the drive from San Francisco to Monterey is almost 2 hours, and that’s if you go Highway one. If you haven’t booked a hotel yet, I highly recommend Aloft, Which is part of Starwood/Marriott group and is inexpensive, but lighthearted and fun. It reminds me of deluxe dorm room accommodations, and similar to a few hotel chains I like - A-C, Mama Shelter, CitizenM, etc. - they are all fun, unconventional and inexpensive. But I digress. Since the drive is fairly short, I think you’ll be fine. Often, it’s tempting to take Highway 17 from Santa Cruz to the main freeway 101 at San Jose, but it can be quite busy at certain times of the day based on rush-hour traffic. Over the years I’ve favored Highway 1 to avoid all complications, and it’s still only a 2-hour drive. Since you are starting at the airport, I recommend you go north on 101 briefly to get to Pacifica which is on highway one, then proceed south. The temptation is to go south on 101 and then you’re going to be in traffic getting over to the coast on Hwy 17.