der Kanadier
Canadian
A male citizen or resident of Canada.
Mein neuer Kollege ist Kanadier und kommt aus Toronto.
My new colleague is Canadian and comes from Toronto.

Canadian / canoe
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Canadian
A male citizen or resident of Canada.
Mein neuer Kollege ist Kanadier und kommt aus Toronto.
My new colleague is Canadian and comes from Toronto.

To distinguish the two meanings, pay attention to the context. If it is about geography, nationalities, or people, it means the person from Canada. If it is about sports, water, a lake, or renting equipment, it means the boat.
Der neue Botschafter ist Kanadier.
The new ambassador is Canadian.
The word belongs to a family derived from the country name 'Kanada' (Canada). This also includes the adjective 'kanadisch' (Canadian).
Die kanadische Flagge hat ein Ahornblatt in der Mitte.
The Canadian flag has a maple leaf in the middle.
When the boat is meant, typical verbs are 'einen Kanadier mieten' (to rent a canoe), 'im Kanadier fahren' (to ride/travel in a canoe), or 'mit dem Kanadier paddeln' (to paddle with the canoe).
Am See kann man sich für 20 Euro pro Stunde einen Kanadier mieten.
At the lake, you can rent a canoe for 20 euros per hour.
Canadian
'kanadisch' and 'Kanadier' are both connected to Canada, but they belong to different parts of speech. 'kanadisch' is an adjective and describes origin, culture, or belonging, for example food, music, or a company. 'Kanadier' is a noun and refers to a male person from Canada or an inhabitant of Canada. Learners may confuse the words because they look similar. As a practical rule: use 'kanadisch' for qualities or characteristics; for a person, say 'ein Kanadier'.

Der Kanadier erzählte uns viel über den Winter in seiner Heimat.
The Canadian told us a lot about winter in his home country.
Im Supermarkt habe ich kanadischen Ahornsirup gekauft.
I bought Canadian maple syrup at the supermarket.