HMCS Malahat is a Royal Canadian Navy Reserve Division (NRD) located in Victoria, British Columbia.

The Royal Canadian Navy Volunteer Reserve (RCNVR) was established in January 1923, with 1000 officers and men.

Victoria's No.1 Half Company was not re-established in 1923, and "it was felt that the Regular Navy presented enough of a presence in Esquimalt, that a reserve unit would seem to be a waste of money in an era of extreme austerity".

For nearly 20 years, Victoria's only connection with the RCNVR was the large groups of reservists who carried out naval training in Esquimalt every summer.

The remainder of the 24 Naval Reserve Divisions would be subsequently commissioned, with the last being HMCS Queen Charlotte (Charlottetown) in 1994.