As others mentioned, calibrating compass is useless in your scenario (unless asked to do so).
Because I live right on the western most point of Africa (Dakar) and have ocean to the east about 300 meters from the house and to the west about 600 meters, I fly 80% of flights over water. 100+ flights over water. I have done it with my Mavic Air and my
Mavic 2 Zoom, but mainly the M2.
A few pointers. RTH - if I am flying from a boat, then setting Loss of Signal to HOVER is my advice. You would rather it hover in place and regain control than have it go back to the take off point which will not be where your boat currently is. Manual return and landing required.
The Mini (and other drones, mine included) will get a little flustered with holding altitude when very low over the water. You can do a search and read about it. Yesterday I flew out and hovered over the water at about 15ft high, I could watch it as it bounced maybe 1 to 2 ft in altitude for a few seconds until it stabilized. I've been told it is something about the optical sensors or ultrasonic sensors, no idea but it happens. So be prepared if it starts to lose altitude to fly it out.
Now the Mini specifically seems to have a software bug of uncontrolled descents. Personally I would not trust that drone over water but up to you. Just seems to be too many complaints about the Minis suddenly descending into the abyss.
Good luck. Here is my flight from yesterday. This was 1 mile off shore.