My preferred finish it a 50:50 blend of pure tung oil and varnish. It provides the same look and feel of an oil finish with considerably better durability. It's still a simple wipe-on, wipe-off application, making it easy to apply and maintain.

There are two issues with epoxy. It's a film finish and you have to maintain it, or water will seep under it and become trapped, causing staining and potentially rotting the wood. On an item like a paddle that sees a fair amount of abrasion and/or abuse, maintaining a film finish can be a hassle. Additionally, it degrades when exposed to UV light, so you need to protect it with varnish or paint, further complicating the application process.