Police say the woman tried to cross Highway 2 at Old Owen Road around 7:30 p.m. Meanwhile, the truck was stopped at the intersection behind another vehicle in the eastbound lanes.
Witnesses reported that the pickup was revving the engine and then went around the first vehicle and struck the bicyclist in the intersection. The truck then drove off.
Two other vehicles drove into the intersection and also accidentally hit the bicyclist, but those drivers stayed on the scene to help with the investigation.
The woman was not wearing a helmet. Her name has not been released.
Friends of the victim, including motel manager Chris Johnson, are struggling to come to grips with the loss.
"We became pretty good friends, and now ... It's difficult. It's just a shock," Johnson said.
On Thursday, police went door to door looking for leads in the case. A state Department of Transportation official said the only camera pointed directly at the intersection was most likely not set up Wednesday night because it's only used for traffic studies.
For his part, Johnson just wants the driver to do the right thing and confess.
"If it was an accident then it was an accident," he said. "And if not, they definitely need to pay."
Witnesses only could say the driver was inside an older, light-colored pickup truck that was possibly blue and white. If you have any information, you are asked to call the Monroe police department.