What does Kanaka mean?
From Sanskrit 'kanaka' (कनक), whose primary meaning is 'gold'. Literal metal sense. (An unrelated Greenlandic 'Kanak' meaning 'upper tent pole' is a separate homograph.)
What does Hiranya mean?
From Sanskrit 'hiranya' (हिरण्य) meaning 'gold'; the related adjective 'hiranmaya' means 'golden'. Dictionary-level 'gold' meaning is well attested.