I am open to suggestions on places to stay. Would like to be on the coast - that is why I was considering Hermosa - but am I better off staying around Santa Monica or someplace else???
In addition to the Porsche Experience Center, I am thinking we would like to cruise the PCH, hit Santa Monica Pier, sunset strip, Griffith Park, Getty Center. Wife wants to shop Rodeo Drive and visit a farmers market. I am looking forward to the Sugarfish suggestion for sushi and a good local taco truck. Outdoor dining would be great if weather is OK. Maybe a concert at Disney Hall, Universal Studios tour, or comedy show.
I need to narrow down the list so I have time to sleep in, walk on the beach, and enjoy some cocktails.
If you were planning on visiting the Santa Monica Pier (and likely Venice Beach and the 3rd Street Promenade) anyways, then I would strongly consider moving your hotel to Santa Monica. The problem with Hermosa Beach is that there isn't much around there in terms of the sights, and it's a bit land-locked so it takes a while to get onto a freeway. Santa Monica might be a better bet as there are lots of great hotels around there, and you still meet your goal of being on the coast and next to PCH. (*The drive to Malibu is gorgeous, and there are a ton of great driving roads relatively close to the area and to the Getty).
If you're looking for a comedy show, both The Comedy Store and The Laugh Factory are good places to go, particularly if you wanted to visit the Sunset Strip anyways. Celebrities always perform at both locations, so you'll have some fun and get to see someone famous (so "LA").
As for a farmers market, the Original Farmers Market is on 3rd and Fairfax and happens to be right next to The Grove, which is another tourist attraction. You may want to check that out. (*Loteria is at the Original Farmers Market and, while not a taco truck, makes an exceptional taco). If you're in that area, good picture opportunity at "Urban Light" outside of LACMA: https://www.yelp.com/biz/urban-light...ma-los-angeles
Both Griffith Park and The Getty Center are worth going to; don't necessarily need to go to both though. The Getty Center is beautiful architecturally, and the Observatory and Griffith Park are iconic are may provide you with some more outdoorsy activities.
Shopping on Rodeo Drive is excellent, which is to be expected. If you're hungry for a pastry, you can also visit the Bouchon Bakery across from The Montage Hotel.
Outdoor eating: Casual place would be Urth Cafe (featured in pretty much every episode of Entourage). The Ivy is another place with an outdoor eating area and is known as a celebrity hotspot. I also particularly like Wolfgang Puck at The Bel-Air Hotel. The food is solid (not exceptional), but the ambiance is top notch. Also, Wolfgang is often there during the lunch hour and will come out and say hello (and he will say hello at CUT and Spago at night). Here's a list of other great outdoor eating spaces: http://la.eater.com/maps/best-los-an...os-restaurants
Concert at Disney Concert Hall would be fun. The acoustics there are great, and the LA Phil is amazing (although you're quite fortunate to have the Boston Pops out in MA). You may even want to check out a Lakers game if you're out here (hey, when in Rome ...).