My Little bloke is about the same age. Just turned 2.
I had him out in the water last summer and used a Wahu one with him. It was good.
Just make sure if you get one that the little one is in the right weight range, if your kid is to light they make them float face down, which ain't good.
For me Swimming lessons are a must, teaches them to roll onto their back, float and to shake off a mouthful of water.
I wouldn't take my boy out in breaking waves but have pushed him into some unbroken waves with mum on the shore and me out in the water with him. He loved it..
Paddling around on flat water he is ok, he freaks out occasionally and tries to jump off and takes some convincing to get back on