The hike to Mt. Owen proves to be very straight-forward. Simply followed the well-used trail #748 that leads up Wild Cherry Creek and that trail takes one all the way to Cherry Lake, however, there is no need of going all the way to the lake.
The first 3.5 miles of trail stay in mostly forested terrain with plenty of aspen groves. The trail always stays on the north side of Wild Cherry Creek, typical of most mountain trails, to afford quicker accessibility as the winter snows melt. The first mile is easy and pleasant. After that, the trail begins to climb more steeply, working its way up on numerous switchbacks that will first lead away from the creek only to always return back to the creek. There are some switchbacks that come on a more open slope farther along. (We met a trail crew this day coming up to do several days worth of restoration and maintenance work on this trail.)
After the first 3.5 miles of hiking, you will come to an open meadow area where things level out some. There is a nice campsite over near a large, conglomerate boulder. In this upper meadow, we found abundant, colorful Rocky Mountain Penstemon, with its nearly neon-like purple and blue hues.
From this meadow and campsite, continue for a short distance on the trail that turns SE to Cherry Lake, but depart the trail once you are past the group of conifers that ring the north side of the basin above the trail. Elevation here will be about 11,500 ft. Simply follow an open, grassy slope that leads NE to more open slopes of grass, tundra and rock. This SW facing slope we found clear of any snow and was relentlessly steep over 1,000 feet before intersecting the main west ridge of Mount Owen. Once on the ridge, it is a boulder hop for some distance to the tundra-covered summit. The summit will offer nice views of Cherry and Cotton Lakes, Mt. Marcy, De Anza, Gibbs, and Electric Peaks. There's also the vast San Luis Valley to the west.
Links to other information, routes & trip reports for this peak that may be helpful.