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 Rupa mean?
From Sanskrit रूप (rūpa) 'form, shape, beauty'. In names it carries the 'beauty' sense; the underlying word denotes beautiful form or appearance.