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Welcome Gary.
That arm is called a boom. In most cases on a trawler type yacht, its primary purpose is to lift a dinghy onto a boat deck. So yes, it would live your bikes. Some boats have electric cranes for the purpose instead of a mast and boom.
Great question, but it does demonstrate maybe your lack of experience with boats? I fully support your dreams and ideas of possibly living aboard. However, you may want to get some experience with cruising on boats before jumping in. If you can find a way to charter some boats for a couple weeks at a time you will learn a lot about what type of boat may meet your needs and some of the realities of living on one.
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