A slow lazy walk to Cannery Row is the best bet. Look into the quaint shops for souvenirs and other trinkets. Walk back in the afternoon and stop to see the sunset. Halfway the bike path between the Wharf and Cannery Row is a large tree with a bench underneath. Sit down holding hands or cuddling with the love of your life. Watch the waves crash into the shore as the occasional Sea Otter waves at you. Notice the sunset striking the Wharf with pink, orange hues of light. Afterwards, Dinner at the Fish Hopper. Yes, the name has much to be desired, but once you sit in a booth with the wide bay windows overlooking the Bay with your significant other in hand, you'd thank me. Warm up with their famed award winning Clam Chowder and pick your choice of seafood (the Salmon is to die for). Top off the evening with a beer at the Mucky Ducks (across the street from the Marriott). A lively Irish Pub if you ever seen one and they have a Trivia game every Tuesday evenings! The Nightlife in Monterey... not much there. The town tends to shut down after 9pm.
Quick Tips:
If you choose a hotel near the Wharf or Bay then I recommend not renting a car. I chose the Marriott in Monterey. Very spacious rooms, beautiful view of the Bay on the 7th floor up. Bring a Camera and picture the sunset! It's only a 15-minute walk to Cannery Row and literally a spits throw from the Wharf. The town livens up to a small town festival every Tuesday evening (again, only a block away from the Marriott). See my tips on driving below. Best Way To Get Around:
Walking is your friend if you plan to stay in town and not go much of anywhere. The Marriott is just a 2 minute walk to the Wharf and a mile walk to Cannery Row. I rented a car but it sat in the garage for half the time I was there. Parking is expensive a day so be cautious. I recommend renting a car on the day you decide to take a drive on the 17-mile. At that point, rent a car.