Submarine canyons are hot spots for topography‐internal wave interactions, with elevated mixing contributing to regional water mass transport and productivity. Two velocity time series compare and contrast internal waves deep inside Barkley Canyon to a nearby site on the shelf‐break slope of the Vancouver Island Continental Shelf. Elevation of internal wave energy occurs near topography, up to a factor of 10 above the slope and 100 in the canyon. All frequency bands display strong seasonal variability but weak interannual variability. Diurnal (K1) energy is sub‐inertial, trapped along topography, and forced locally through barotropic motions. Both sites have high near‐inertial (NI) energy linked to wind events, though fewer events are observed deep inside the canyon. At the slope site, near‐inertial energy is attenuated with depth, while in the canyon it is amplified near the bottom. Freely propagating semidiurnal (M2) energy appears focused near critical shelf‐break and canyon floor topography, due to local and remote baroclinic forcing. The high‐frequency internal wave continuum has enhanced near‐bottom energy at both sites (up to 7 × the Garrett‐Munk spectrum), and inferred dissipation rates, ɛ, reaching 10−7 W kg−1 near topography. Dissipation is most strongly correlated with semidiurnal energy variability at both sites, with secondary contributors that are site dependent. Forcing power law fits are on the slope, and NI0.2 in the canyon. There is also a build‐up of “shoulder” energy (PSh) near the buoyancy frequency, with a power law fit to dissipation of PSh ∼ ɛ0.3 at both sites.