Paths are for barbarians. The format for a monk would be "Way of the Sage."

This is also fairly awkward. from 3rd to 5th level it cuts deeply into your damage output to cast anything. That limit is lifted at 6th level, and you can do ridiculous out of combat healing. Cast Cure wounds a number of times equal to half your level, then regain all those resources after an hour.

if you want spellcasting to be on a long rest, give them regular 1/3 spellcasting. If you want something tied to short rests give out 1/3 of pact magic, and add a few abilities that cost Ki points to balance it out at higher levels. Not having to spend ki points at 3rd level would actually be a good way to balance the weakness of 1/3 spellcasting at low levels.

Also, 11th level is supposed to grant a major feature. It can be a bit skimpier than usual for caster subclass, but should probably be more than a knockoff of the Eldritch Knight.