AbstractSmall mammal abundances are frequently limited by resource availability, but predators can exert strong lethal (mortality) and nonlethal (e.g., nest abandonment) limitations. Artificially increasing resource availability for uncommon small mammals provides a unique opportunity to examine predator–prey interactions. We used remote cameras to monitor 168 nest platforms placed in the live tree canopy (n = 23 young forest stands), primarily for arboreal red tree voles (tree voles; Arborimus longicaudus), over 3 years (n = 15,510 monitoring‐weeks). Tree voles frequently built nests and were detected 37% of monitoring‐weeks, whereas flying squirrels (Glaucomys oregonensis) built nests infrequently but were detected 45% of monitoring‐weeks. Most nest predators were detected infrequently (<1% of monitoring‐weeks) and were positively correlated with tree vole presence. Weasels (Mustela spp.) were highly effective predators of tree voles (n = 8 mortalities; 10% of detections) compared to owls (n = 1), flying squirrels (n = 2), and Steller's jays (n = 1). Tree vole activity decreased from 84.1 (95% confidence interval [CI]: 56.2, 111.9) detections/week 1‐week prior to a weasel detection to 4.7 detections/week (95% CI: 1.7, 7.8) 1‐week postdetection and remained low for at least 12 weeks. Interpretations of predator–prey interactions were highly sensitive to how we binned continuously collected data and model results from our finest bin width were biologically counter‐intuitive. Average annual survival of female tree voles was consistent with a previous study (0.14; 95% CI: −0.04 [0.01], 0.32) and high compared to many terrestrial voles. The relative infrequency of weasel detections and inefficiency of other predators did not provide strong support for the hypothesis that predation per se limited populations. Rather, predation pressure, by reducing occupancy of already scarce nest sites through mortality and nest abandonment, may contribute to long‐term local instability of tree vole populations in young forests. Additional monitoring would be needed to assess this hypothesis.