Australian vs inhabitant

Australian and inhabitant both are nouns.

Word	Noun	Adjective	Verb	Adverb
Australian	Yes	Yes	No	No
inhabitant	Yes	No	No	No

As nouns, inhabitant is a hypernym of Australian; that is, inhabitant is a word with a broader meaning than Australian:

Other hypernyms of Australian include denizen, dweller, habitant, indweller.

Australian (noun)	inhabitant (noun)
the Austronesian languages spoken by Australian aborigines	a person who inhabits a particular place
a native or inhabitant of Australia

Australian (adjective)	inhabitant (adjective)
of or relating to or characteristic of Australia or its inhabitants or its languages