I prefer a headlight, which can be easily turned on, even with gloves, by a simple rotation of the bezel. I like a full perimeter outline of my kayak done in highly retro-reflective tape (1/2" wide minimum, full length each gunwale). This helps other boaters aiming a light at me to see the outline of my kayak. By turning on the headlight, I can also "shed some light" and "reflect" the fact I'm in my kayak. I don't normally paddle with the headlight on. I also carry a strobe/flashlight combo on my PFD, as well as two flashlights, all easily accessible. One of the flashlights is very powerful (relative to the spare one and the headlight). I carry a spare headlight too, in case of an unplanned, longer outing or loss of the main headlamp. My PFD is augmented with reflective tape (sew-on variety) and my paddlels are augmented with reflective stick-on tape.
For night rough-water paddling, I tend to frequent areas more remote, so other boat traffic is rarely present. It's fun to hang upside-down, with the light on, looking at the churned up seaweed, before rolling back up. I only do this sort of paddling in areas where I have strong local knowledge with egress routes and embayments where shelter can be sought or the currents/wind will push you into if you happen to swim.
Trying to emulate more typical craft at night, with internationally recognized navigation lighting is to be applauded for sure, but it isn't something I tend to aspire to with the kayaking aspect of sea travel, rather preferring to stay incognito or simply out of the way where any marine traffic might be encountered.
Our family paddles at night in the big open Canadian canoe, and we just use flashlights, all very powerful, as there's so much more room to carry them. Crossing channels is admittedly, nerve-wracking, and perhaps some clip-on nav lights would be a cool and responsible way to travel at night. If I did a lot of night sea kayaking in areas with restricted watercourses with condensed marine traffic, I think I'd put some effort into formal navigation lighting.