Kanepi, seeded sixth, got by Vinci 6-2, 7-5, by recording four breaks in the final set Friday to beat Vinci for the first time in her career.
Kanepi was in control in the first set but lost her serve three times in the second and needed a late break to claim the win. There were a total of seven breaks in the 12-game set.
Suarez Navarro advanced to Saturday's final with a 6-4, 6-0 decision over Karin Knapp. She swept through the second set, losing just six points in three service games and finishing off three of her five break opportunities in the set.
Kanepi will be seeking her third WTA championship. She claimed the season-opening tournament in Brisbane, Australia, this year. Suarez Navarro is 0-2 in tournament finals, losing at Marbella, Spain, in both 2009 and 2010.
Kanepi and Suarez Navarro have split their two career meetings.