Gilly's Carnauba Wax

Hi guys, wondering if I could get some advise on finishing furniture with wax. I have been using Gilly's wax for small projects such as mirror and picture frames with some success but recently finished an American Oak coffee table using their three product system (Restoring wax then Cabinetmakers Wax and then a final coat of Carnauba Wax). The finish look great except that the final coat of Carnauba Wax seems a little "sticky". The biggest issue, though, is that water seems to affect the finish much worse than I would have expected. If i leave a wet drinking glass on in for a few minutes it leaves a white ring behind that needs to be sanded and refinished to remove. Firm buffing with a bit of extra wax also gets rid of it. I guess my question is, is this normal for a wax finish or have I done something wrong in the application?