A record number of 85 competitors has been selected for the Oceania Championships in New Caledonia this month, the highest since the competition began in 1990.
Monk said there would likely be a single Oceania spot in each of the eight divisions, so the fight to be part of the Olympic squad will be "tough".
"We have a few students currently in NZ that have a chance of making it to the Olympics and would have a chance of a medal," he said.
"But it will be a very difficult path."
Ronald Tham, managing director of a construction company, said it was a "family dream" for his 14-year-old black belt son Daniel to be in the Olympics.
"As a karate exponent myself, I am excited that karate will be in the Olympics," Tham said.
"It is too late for me but I am living my dreams in my children."
Daniel, an Auckland Grammar School boy, trains four times a week for at least three hours at each session.
"I felt so proud watching our Olympians on TV and I hope that one day that would be me," he said.
Sensei Johnny Ling, Daniel's SSKANZ Karate Club chief instructor, believes he has a "fighting chance" to be in the Olympics squad.
"At the time of the Olympics, Daniel will be 18, a ripe age to compete," Ling said.
"But I expect the competition to get into the squad will be really fierce."