The Keewenaw Waterway is a semi-canalised channel cutting cross the Keewenaw peninsula some 40 miles SW of its tip. For yachts heading along the southern shore of Lake Superior, cutting through the waterway saves around 100nm in distance compared to sailing around the peninsula and in rough weather it provides numerous options for sheltering.

There is a minimum depth of 7-8m throughout the waterway, it is well lit and has no locks, although there is a lifting bridge between Hancock and Houghton. The latter opens on the hour every hour except 0900, 1200 and 1700. There is a box type marina in Hancock halfway through the waterway or alternatively numerous anchoring opportunities anywhere outside of the main channel or around the edges of Portage Lake