Supersonic flow over a hollow cylinder/flare with a free-stream Mach number of 2.25 is numerically investigated in this study. Axisymmetric computational fluid dynamics simulations and global stability analysis (GSA) are performed for a wide range of cylinder radii and flare deflection angles. The onset of incipient and secondary separation is delayed as the cylinder radius is decreased due to the axisymmetric effects. The GSA reveals that a decrease in cylinder radius also postpones the emergence of global instability. The GSA results agree well with the results of direct numerical simulations for a supercritical case in the linear stage. The saturated flow exhibits pairs of unsteady streamwise streaks downstream of reattachment. The criterion of the global stability boundary established for supersonic flow over a compression corner (Hao et al., J. Fluid Mech, vol. 919, 2021, A4) is extended to its axisymmetric counterpart.