The Asian paper wasp (Polistes chinensis) is an invasive species in New Zealand and a voracious arthropod predator, incorporating a wide range of prey into its diet. We examined the colony survival and prey community composition of these wasps in a protected coastal habitat in New Zealand. Paper wasp colonies at this site were surveyed and monitored weekly over two summers. Our data showed that only ~20% of the monitored colonies each year survived until late summer, with high rates of colony mortality in late spring and early summer. We collected samples of wasp larval guts over a temporal gradient in one nesting season, and via DNA metabarcoding analysis, we identified the prey species consumed. The prey species most frequently identified in larval samples were endemic cicadas and several lepidopteran species. No native arthropod species of known conservation concern were identified in the analysis. However, 63% of the unique taxon sequences retrieved could not be identified by genus or species level, likely due to the absence of reference barcodes. These taxa may represent a group of understudied species, potentially highly endemic or localised. Our analysis indicates that these invasive wasps are opportunistic‐generalist predators with the potential to exert high predation pressure on native arthropods. P. chinensis may be preying on a range of understudied species, especially in remote, natural habitats across New Zealand. We recommend future studies continue to barcode native New Zealand arthropods in order to improve the taxonomic assignments of dietary studies.