Soak a rag in water and wipe all the loose dirt or residue from the siding; paint thinner should be applied to a clean surface for best results.
Lift away any chipped sections of the paint using a paint scraper or putty knife. This step reduces the need for a chemical solvent and will save you time in the long run.
Select an appropriate paint thinner for the task. Liquid and aerosol thinners can effectively remove up to two coats of paint, while brush-on paste-like formulas can remove several coats in one application.
Protect your hands with solvent-resistant rubber gloves to avoid alkaline burns. Apply an even layer of paint thinner to the Canexel using a brush, paint roller or spray can according to the manufacturer's recommendation.
Begin removing the softened paint with the scraper. Gently scrub the stubborn remainder with a moderately abrasive material, such as a scouring pad or steel wool, until you have completely removed the paint.
Rinse the Canexel surface with water to remove any excess paint and chemicals. Allow the bare siding to dry for 24 hours before applying a new coat of paint.