Coaxial cavities are used in high power gyrotrons as the beam-wave interaction structure. Much research has been devoted to their mode selective properties. A coaxial cavity lacks a sharp boundary at its open end, so it has some physical features that can only be observed using a spectral model, such as frequency-dependent field profiles and mode overlapping effects. These properties are important since cold tests are usually conducted in the frequency domain. This study applies the incident/reflected wave boundary condition to the wave equation of a weakly irregular coaxial waveguide. The resistivity of the wall is considered in the analysis. Calculations reveal that the fixed-position spectrum yields an uncertain resonant frequency and quality factor. Although the maximum-field spectrum can uniquely determine the properties of the coaxial cavity, the resonant frequency obtained using the maximum-field spectral model is inconsistent with that obtained using the temporal model. The field-energy spectrum explains the low Q nature of the coaxial cavity. Moreover, resonant frequencies evaluated using the field-energy spectrum agree precisely with those evaluated using the temporal model.