Are you looking for a timeshare in particular, or just ideas of where to stay?
Are you planning on taking the scenic coastal route along Highway 1? If so I highly recommend you stop in Cambria and do a tour of Hearst Castle. Monterey to Cambria is a little over 3 hours, with no stops. Cambria to Los Angeles is about 5 1/2 hours on Highway 101, a bit quicker if you go over to 5, but not nearly as pretty.
If you take Highway 101, San Luis Obispo or Pismo Beach are about half way. I would still suggest a side trip to Hearst Castle. Monterey to San Luis Obispo is a little over 2 hours, and San Luis Obispo to Los Angeles is 4 hours on 5 on and 5 1/2 hours on 101.
All of these times are per Google Maps and of course depend on traffic.
If you do go down 101 a stop in Solvang is worthwhile if you have the time.