HI M,
This really is a question of money and space. I have both a Craftsman table saw and a Delta 14" band saw. I use both while building boats. Start with a good table saw. This will allow you to cut the long boards into strips and if reguired for canoes, gunnels. With a good thin kerf blade the cut strips can be used as is. As was stated in another response, this is a good item to start your shop with. With a band saw it requires a few passes through a thickness planer. The blade on a band saw tends to wander a bit and leaves a rougher surface. Another draw back is the throat on a band saw. It is limited to 13 1/2 inches on my saw.
Once started I put the tablesaw in a corner and use the bandsaw for most of the cutting and shaping that is required. I cut my paddles with the band saw and have great results. So to sum up what I would start with: table saw, band saw, jointer, drill press, router table, router,.......... Opps just maxed my MC.