I also use a physical device to dedicate more mac resources to the IDE. I keep telling myself the M1 is faster, but I in reality I only notice speed reduction and freezes when compared to MacBook Pro 16' 2020 2.3GHz 8‑core Intel Core i9 or my Intel i7-9700K Hackintosh. I've always been on the Canary version too. I've tried to use Android Studio for the past couple of months, and to me, it is unusable, let alone at parity with running it on Intel. Serious performance issues (before May 2021) I've noticed its also a day late on releases. Don't use jetbrains toolbox because it is bit buggy, it downloaded an outdated version of Android Studio. The Beta version (Arctic Fox Beta 4) now has Apple Silicon support, so you can download it from Android Studio download archives.
Available on Android Studio Arctic Fox (Beta)
