Well first it will depend on what the clear finish is, it could be clear gel coat and if it is you will have to sand it off. If it's clearcoat like paint, I'd chemically strip it then sand, just faster and less chance for damage to the fabric you want to save. Awfully easy to catch an edge of a sander in the laminate and gouge it and I suspect it's pretty thin on a race boat so you can easily make holes.

Most of the racing kayaks and canoes I have worked on had very thin clear coats. Most off the shelf chemical strippers are made for single component finished and won't touch modern urethanes. You have to buy special systems. Being so thin a light sanding will probably remove most of finish.

IF it was my project I'd use a sharp scraper and get most off the flaking finish off first. I'd then feather out the sound areas of finish. Why remove it if it's still good? I'd then lightly wet sand the entire surface, trying not to get into the laminate if at all possible. You just want to roughen it up for the finish to get a mechanical bond. Lastly I'd shoot on two coats of clear auto urethane, buffing when cured. That would be the thinnest, lightest and smoothest option.

Good luck!