You won't have ANY problems with an Element. But remember that you will travel a little way on gravel road, so ensure your tires have decent tread in order to avoid the potential for a flat.
I'd stop by the big tree (can't miss it -- there's a sign on the road) and if you're up for it venture off along logging road spurs to check out some quiet areas that would be great for a picnic.
Vic >> Port Renfrew 1:15 hours
PR >> Lake Cowichan 1:25 hours (with a few stops)
Lake Cowichan >> Victoria 1:30 hours
Thanks Mike!! I think we will go on Saturday.