Given the current research gap regarding cavitation phenomena and startup conditions in water-lubricated bearings (WLBs), this study offers an innovative approach by integrating the mass conservation boundary condition proposed by Jakobsson, Floberg, and Olsson (known as the JFO boundary condition) with a transient mixed lubrication model of WLBs. It also considers the impact of elastic deformation and surface roughness peaks, thus establishing a transient startup model of WLBs that incorporates the cavitation effect. Furthermore, the dynamic behaviors of this boundary condition are contrasted with the commonly used Reynolds boundary condition during the startup process of the bearings, as well as under eccentric and step load impacts. The findings demonstrate that the JFO boundary condition, accounting for cavitation effects, significantly influences the transient performance of WLBs. The presence of a cavitation region diminishes the damping of the bearing system following step load impacts, leading to increased overshoot and adjustment time while weakening the system's self-adjusting ability against step loads. This study offers valuable insights for theoretical analysis of ship propulsion systems operating under complex conditions.