Yes, you can.
Thorncrest Outfitters is located right in the center of Tobermory town and they offer Kayak and Canoe rentals.
Also there is
lands end park Lands end park is a private campground but you can rent canoes/kayaks from them on an hourly basis, even if you are not staying in their campground.
Its always best to make reservation for canoe/kayak rentals beforehand, as weekends in summer gets very busy and you will not find any rentals available if you go in the last minute.
Summer House Park also rents canoes and kayaks. But they only rent them for paddling within Miller Lake. You can’t rent them and take them out to Cyprus Lake.