This is probably the coolest short hike this close to downtown Kelowna. Hard to explain how to get there so I included the google link to the parking area at the cul de sac at the end of Canyon Falls Ct.
There is no parking area. You just park on the street on the cul de sac. You can see the lower falls and the top of the upper falls from the trailhead. It only takes about 20minutes to get down there from the trailhead but it is difficult. You walk for about 5 minutes from the trailhead and take the first trail you see going down the hill to your right. If it looks too steep and difficult you can continue on to the bridge and the South Kelowna water intake further up the creek which is a nice casual 1hour hike. From there you can go up another 30minutes further to Jack Smith Lake.
If you take the red pill and go off to your right down the steep slope, there are ropes to get down to the bottom. It makes it much easier to get down and up otherwise you would be sliding down on your bum and crawling up on your hands and knees. Once down you are treated to some nice 20 foot falls. Follow the creek up for another 10minutes and you are treated to MUCH bigger falls. Easily 40-50 feet high.