We study the Ising model with competing ferromagnetic nearest- and antiferromagnetic next-nearest-neighbor interactions of strengths and , respectively, on the honeycomb lattice. For it has a ferromagnetic ground state, and previous work has shown that at least for the transition is in the Ising universality class. For even lower some indicators pointing towards a first-order transition were reported. By utilizing population annealing Monte Carlo simulations together with a rejection-free and adaptive update, we can equilibrate systems with as low as . By means of a finite-size scaling analysis we show that the system undergoes a second-order phase transition within the Ising universality class at least down to and, most likely, for all . As we show here, there exist very long-lived metastable states in this system explaining the first-order like behavior seen in only partially equilibrated systems.

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