Rays' friend Jackie Taylor-Fox said she lost her "beautiful best friend and soul sister in a tragic accident".
"I can't believe she has been taken but I know we truly loved each other so much and we always had the best times through the almost 40 years of our close friendship," Taylor-Fox said.
Witnesses told the Herald police examined a white van that had broken glass and damage to the driver's side of the vehicle, and a person in the van spoke with officers.
The vehicle was reportedly towed from the scene.
Loved ones and fellow cyclists have paid respects and left floral tributes at the corner where Rays was found.
Roses and lilies have been laid next to a black bicycle helmet with the words "Tama with family" written on the top.
Staff at a nearby lunch bar feared the cyclist was one of their regulars because she always wore a pink helmet and would stop in every morning for a hot chocolate - a routine they said she has kept for at least six years.
The worker told the Herald the woman would normally arrive between 7.50am and 8.15am, always with a smile on her face.
Monday's crash was reported at 7.54am.
Other nearby workers said drivers travel "too fast" around the "tricky" corner where the crash occurred, and often travel into the flush median.