50 year resident of San Diego here, and I've pretty much got California's state knife laws tattooed on my brain, what you've described is perfectly legal.
I openly carried fixed-blades for many years here, just make sure it stays visible. I advise people to keep their sheathed fixed-blades clearly visible from the top tip of the handle to the bottom tip of the sheath just to avoid running afoul of an LEO who might personally consider half a visible fb to be a "concealed" fb. This isn't something you want to have to sort out at a police/sheriff station, or in court.
I used to carry fixed-blades in back-pocket sheaths with just the handle of the knife showing, and although I never had any issues when crossing paths with LEO's, my attorney advised me to switch to a fully visible belt sheath to even further decrease my chances of attracting such unwanted attention and winding up in temporary custody.
On another note, I don't know if Santa Barbara has it's own set of knife laws, that's something you should look into if you haven't already. Some counties/cities have a limit on the size of knife that can be carried openly (like a 3" blade length limit in LA). However, such laws tend to have exceptions for knives being carried for outdoor recreational purposes. Local knife laws can typically be found on ones official county or city website, and if they aren't there it likely means they just use state laws.