An air conditioning ventilator includes a ventilation unit, an air conditioning unit and a bypass channel. The ventilation unit has an air supply channel configured to supply air from an outdoor space to a target space, and an air supply fan configured to create a first airflow from the outdoor space to the target space within the air supply channel. The air conditioning unit has an intake channel configured to take in air from the target space, a temperature regulator configured to regulate the temperature of air that has passed through the intake channel, a discharge channel configured to discharge temperature-adjusted air that has been regulated by the temperature regulator to the target space, and an air-conditioning fan configured to create a second airflow from the intake channel to the discharge channel via the temperature regulator. The bypass channel bypassed the air supply channel and the discharge channel.