I'd imagine they would have receive an immense amount of usable material from one. Probably able to make dozens of canoes or something, idk. No idea if they even had the tech to knock one down tbh
Unfortunately I can't speak to redwoods or California area tribes, but I do know a little something about dugout canoes in New England and Atlantic coast indigenous practices in felling large trees for dugout canoes.
While not "redwoods" big, there were white pine trees in New England of absolutely massive proportions prior to European colonization. These trees were sometimes more than 200 feet tall. These trees were used by both indigenous and early colonists for making canoes, but wee also prizes for ship masts. These trees were being cut down so quickly in the 1650s that laws were passed to restrict the harvesting of "canoo trees."
Verrazano wrote about seeing canoes that were 20 feet long and four feet wide in what is today probably Virginia or Maryland. Tribes native to the great lakes used canoes as long as 30 feet, and seafaring canoes in New England could be even larger. They were known to carry more than a dozen people, so we're talking pretty big pieces of wood!
Theodor de Bry's woodcut prints (which were adapted from John White's sketches) of the process for felling trees and making canoes are fascinating and I encourage you to look them up, but colonists also wrote some pretty solid descriptions of how it was done.
Thomas Harriot wrote about Roanoke men using wood chips to burn the lower portion of the tree, burning it all the way through so that they could fell the trees without tools. Then they burn off the limbs, and use shells to remove the bark. Ultimately they would use fire and a stone adze to shape and hollow out the canoe. Experimental archaeologists like Mike Volmar have cast some doubt on this historic record though, as they struggled to get the fire to take hold. They theorized that tribes may have girlded the tree early in the year (or the year/s before) to dry them out.
William Wood noted a similar process in southern New England. Roger Williams did as well, saying the entire process could be completed by one man in just 12 days (presumably for a much smaller personal canoe).
So I'm sorry that this doesn't precisely answer your question, but indigenous Americans absolutely had the tech to fell large trees and make them into boats in eastern America. Hopefully someone else has some better info for the Pacific coast.