Hmm, 40 point buy. Yummy Monk.
Some good advice - but I'd arrange stats slightly differently.
You need to focus on two things, young grasshopper: Hitting thy foes, and not getting hit thyself.
As an elf, thou art more nimble than most beings. Use this. Focus on this. Max out thy dex. With this, and some experience, you can learn Weapon Finesse, Unarmed. Now, grasshopper, you will be doing almost as well as the mighty warrior with his greatsword. Wisdom, also, is vital. This should be above average - 14. Do not neglect thy intelligence - you will want to learn many things: Tumble, Jump, Sneaking and Hiding, Escape Artist - and others. Thy intelligence should be equal to thy wisdom.
Now, finally, we come to strength and health. Health, of all things, will be a problem for thy slightly fragile frame. If you plan on improving it as soon as can, then leave it barely above average: 11. At level four, bump to 12, you get 4 more hit points.
And strength. Again, a 14 is the smallest number you should consider here.
Does the math work: 18 = 16 points. 14 = 6 points. 3 14s, 1 18 = 36, 4 points left = rats, silly con penalty. Okay - 17 Dex, gives you 3 more points, now you have a 13 con for 5 and a cha of 10.
Raize dex at level 4, con at level 8.
For feats: Dodge, Weapon finesse unarmed, then expertise or mobility.
And that is how I'd make an elven monk. Be a solid scout. If the party has a rogue - you need to work together, you setting up his flank attacks, sneaking with him, etc. If not, you just became the party scout: first to find trouble!