The phase diagrams in the mixed spin-3/2 and spin-2 Ising system with two alternative layers on a honeycomb lattice are investigated and discussed by the use of the effective-field theory with correlations. The interaction of the nearest-neighbour spins of each layer is taken to be positive (ferromagnetic interaction) and the interaction of the adjacent spins of the nearest-neighbour layers is considered to be either positive or negative (ferromagnetic or anti-ferromagnetic interaction). The temperature dependence of the layer magnetizations of the system is examined to characterize the nature (continuous or discontinuous) of the phase transitions and obtain the phase transition temperatures. The system exhibits both second-and first-order phase transitions besides triple point (TP), critical end point (E), multicritical point (A), isolated critical point (C) and reentrant behaviour depending on the interaction parameters. We have also studied the temperature dependence of the total magnetization to find the compensation points, as well as to determine the type of behaviour, and N-type behaviour in Neel classification nomenclature existing in the system. The phase diagrams are constructed in eight different planes and it is found that the system also presents the compensation phenomena depending on the sign of the bilinear exchange interactions.