"Monterey" was reclassified CVL-26 on 15 July 1943, shortly before commissioning, and after shakedown, departed Philadelphia for the western Pacific. She reached the Gilbert Islands on 19 November 1943, in time to help secure Makin Island. She took part in strikes on Kavieng, New Ireland on 25 December, as part of Task Group 37.2 (TG 37.2), and supported the landings at Kwajalein and Eniwetok until 8 February 1944. The light carrier then operated with Task Force 58 (TF 58) during raids in the Caroline Islands, Mariana Islands, northern New Guinea, and the Bonin Islands from February–July 1944. During this time she was also involved in the Battle of the Philippine Sea on 19–20 June.