We present our Swift monitoring campaign of the slowly rotating neutron star Be/X-ray transient GX 304-1 (spin period of ~275 s) when the source was not in outburst. We found that between its type-I outbursts the source recurrently exhibits a slowly decaying low-luminosity state (with luminosities of 10^(34-35) erg/s). This behaviour is very similar to what has been observed for another slowly rotating system, GRO J1008-57. For that source, this low-luminosity state has been explained in terms of accretion from a non-ionised (cold) accretion disk. Due to the many similarities between both systems, we suggest that GX 304-1 enters a similar accretion regime between its outbursts. The outburst activity of GX 304-1 ceased in 2016. Our continued monitoring campaign shows that the source is in a quasi-stable low-luminosity state (with luminosities a few factors lower than previously seen) for at least one year now. Using our NuSTAR observation in this state, we found pulsations at the spin period, demonstrating that the X-ray emission is due to accretion of matter onto the neutron star surface. If the accretion geometry during this quasi-stable state is the same as during the cold-disk state, then matter indeed reaches the surface (as predicted) during this latter state. We discuss our results in the context of the cold-disk accretion model.
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