I have been watching ebay for reels and there are some real nice Okuma and Tica reels that went for pretty low prices. Look for the Tica GP3000 or 3500, Okuma FI-20 or 30, AV-20 or 30. Load these up with a braid of your choice in the 20lb test (approx 6 lb diameter) and you're set.
For rods, you can't go wrong with an ugly stik. Get it in the 6-7' range so you can swing it over your bow if the fish runs under your yak. Takes a lickin and keeps on tickin.
That is the combo I would recommend without reservation. Oh, don't forget, you don't really need heavy stuff cause you're not having a tug of war with a fish as you would on land. When you have a fish on, you are also cranking yourself towards the fish!