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Abstract Most ecological models are based on the assumption that species interact in pairs. Diverse communities, however, can have higher‐order interactions, in which two or more species jointly impact the growth of a third species. A pitfall of the common pairwise approach is that it misses the higher‐order interactions potentially responsible for maintaining natural diversity. Here, we explore the stability properties of systems where higher‐order interactions guarantee that a specified set of abundances is a feasible equilibrium of the dynamics. Even these higher‐order interactions which lead to equilibria do not necessarily produce stable coexistence. Instead, these systems are more likely to be stable when the pairwise interactions are weak or facilitative. Correlations between the pairwise and higher‐order interactions, however, do permit robust coexistence even in diverse systems. Our work not only reveals the challenges in generating stable coexistence through higher‐order interactions but also uncovers interaction patterns that can enable diversity.