Does an air conditioner, like a window unit, dehumidify at the same time as cool?

As warm room air passes over the unit's cold evaporator coils:

1. The air is cooled.
2. Water vapor in the air condenses on the cold coils, just like water forms on a cold glass.
3. That water drips into the unit's drain pan. Many window units then sling some of that water onto the hot outdoor condenser coil, where it evaporates and actually helps improve efficiency.

So whenever your window AC is actively cooling, it's also removing moisture from the air.