De Guzman has scored 15 goals in 93 appearances for Swansea after spending the past two seasons on loan and has been linked with a £5million permanent move.
However, Queens Park Rangers are reportedly willing to offer £7million for de Guzman, who made three appearances for the Netherlands at the World Cup.
The 26-year-old has yet to make a decision on his future and Monk has acknowledged that time is running out for de Guzman to agree a return to Swansea.
"We talked to him earlier in the summer, he wanted to keep his options open and I guess his options still are," said Monk.
"I do not anticipate him coming back at this moment in time.
"With the high turnover of players we have had, and trying to get as much information across to them as possible, we have not got time to wait around.
"I am not closing the door on it, if it happens it happens, but he and his agent were the ones who decided to keep his options open and we can't wait about."
Swansea are also in the market for a new defender after Chico Flores’ departure and Napoli centre-half Federico Fernandez is reported to be a target.
Monk added: "We are looking at a number of options in that position. His name is one that has cropped up."
Meanwhile, Monk is looking forward to Swansea’s opening game of the Premier League season away to Manchester United on Saturday.
He said: “We won there last season and that should give the boys confidence. We will go up there with a belief in ourselves and the way we play.
“If we are anywhere near the kind of performance we can deliver we will give anyone a good game.”