Counting the cost of a decent bottle of wine, whether you bring your own or select from the wine list, dinner at Stephanie Inn will be in the $100 per person range. You could/would come close to that at Newman's too. But you might consider Fishes, another of John Newman's restaurants. It's Japanese, but I'd put it in the "fine dining" category. Another thought is The Irish Table, which serves very good food in a homey, casual setting. The downside here is that it doesn't take reservations unless you're a party of four or more, so show up early, or be prepared to wait. Both Newman and Crystal Corbin, the chef at Irish Table, were formerly exec. chefs at Stephanie Inn, so they come with pretty good resumes.
One more.... My favorite dinner in Cannon Beach is whatever is being served at EVOO's Dinner Show. They're not having one on July 4, but if you arrive early enough, you might have apple pie and watch a parade from their deck: evoo.biz/class/apple-pie-while-you-watch-the… .