If Uruguay reach the Olympic final they'll play on 11th August. Suarez presumably would feature in most of the group and knockout matches so he'll be reasonably fit if he stays injury free. Should Uruguay get knocked out in the semis - 7th August - he'll get an extra few days to unwind and get his mindset right for the EPL.
EPL starts 18th August which would give him time to recover and do some light training at Melwood. As an Anfield regular I'd love to see Luis hit the ground running...Man City visit 26th August and Arsenal are at L4 early September. The big one against MU is on 23rd September.
If Brendan Rodgers can come through August and September with 2 wins under his belt that should keep the Anfield faithful happy - I'd settle for winning MU and City - and establishing a fast open style.
Suarez after his undeserved ban last season will want to show us his brilliant best. Thanks for the question.YNWA