Of course. You will fold if nothing hits, because usually when you raise you represent a big hand ( Aces, kings, queens or so, or AK AQ KQ ) and if you check the flop on T 5 4 your opponent will firstly ( if experienced ) think that you missed the flop, but you dont want to fold yet. I usually play after the flop, but I need to have something to hang on to. I usually small bet my opponent to see the turn then check/fold if nothing hits. AK is a strong starting hand but if you miss the flop you got nothing. He can beat you with pair of 2s. On that particular flop you can get lucky with runner-runner ( Jack and Queen for a straight ), so not neccessarily to fold, but if you miss the turn, river wont help a lot. So, I think you should have folded here, since he goes all in and you dont have anything so far. Wait for a better spot to call all-ins.
Why no pre-flop bets?
I think you should rename this thread "you dare to limp AK offsuit and wonder why you lost"
Yeah its pretty easy to get caught up in AK. I personally view it as the single most overplayed hand behind jacks. Both though, will get you in trouble. AQ is right up there tooI think Ak will get you into more trouble than any other hand.I can't tell you how many times I have gone all in with AK and got knocked out of a tourney.you have to see a flop with AK then if it hits make your bet,just my personal opionion.
I agree with what the majority of the answers people have responded with on this post. Don't limp with AK early in the tourny. Offsuit or not. I'd rather shove all-in pre-flop and take a coin flip than to call any bet/raise and dump my cards after the flop.
So, you rather be flipping at the early stages of the tournament, instead of playing the player? Gambler. Just raise pre and see how it goes, then decided what to do.