This month? There's almost no way you'll find a place to stay in Yosemite now... It is a nice drive though, drive down 50 to CA-49. 49 to 120 and there's the entrance. August is almost the worst time for Yose though - it's hot, it's dry, most falls are going to by dry (September is worse).

South Lake Tahoe... There's gambling.
Desolation Wilderness. You can section hike the PCT from Echo Lakes off US-50. Glen Alpine Spring is a neat little hike.
Emerald Bay. Very busy. Eagle Falls is right off CA-89. Vikingsholm is a short hike.

Echo Lakes:



Desolation Wilderness, Heather Lake (July 4, 2011):


Emerald Bay, Eagle Falls:


Yose: August 20, 2007. Bridalveil was about 10' of water, 600' of naked stone.

I'm planning the same trip for next year. Day trip to Yosemite - it's over 4 hours from SLT to Half Dome Village. That's a long day!

Lots of beaches SUP and Paddle Board from
Hike Tahoe Meadows and the Tahoe Rim Trail, Great views of the lake.

If you make it over to North, Lake Squaw has good hiking and a pool and restaurant at the Top of the Tram at High Camp.
Hike up or take the Tram.

Note, if you want to swim (workout swim) there is no air on top of that lake (IMLT Finisher) and even in Summer that water is Cold.

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Can't address what to do at Tahoe, but I have been to Yosemite many times and hiked Clouds Rest. From South Lake Tahoe to do that hike, you would get to US 395 South and take that to Lee Vining and enter Yosemite via Tioga Pass, since you'd want the Sunrise Lakes trailhead on Tioga Road. I'd guess 3 to 3.5 hours drive each way - a long day for sure, but it is a great hike. I did it several years ago as a thru hike from Tioga Rd and down to Yosemite Valley, but I'm sure it would also be great round trip from Tioga Rd. Probably lots and lots of mosquitos this year, so be prepared!

Rubicon Trail around Emerald Bay is a beautiful, easy hike -- not a lot of elevation change. There are places to get in the water at various points on the trail.

I always rent SUPs at Sugar Pine Point state park on the west shore. I've never needed a reservation (though I've never tried on a weekend).