Vena said:
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That would be passable, but the word Youkai has a broader mean. According to Wikipedia, Youkai are a class of supernatural monsters in Japanese folklore. The definition can encompass not only spirits but many different monsters.
For instance a Nekomata is a cat that is transforms into a Youkai by living long enough. They become two tailed and are said to have the ability to shapeshift into humans depending on the story. This type of Youkai is not a spirit.
There's also the Tōfu-kozō which take the appearance of a boy carrying a plate of tofu.
There's also Amabie who is a legendary Japanese mermaid.
And then a whole bunch of different monsters.