Prep your tools: Preheat your air fryer to 320°F (160°C) for 3–5 minutes. Lightly spray silicone donut molds or small oven-safe donut pans that fit your air fryer basket.

Mix the dry ingredients: In a medium bowl, whisk 1 3/4 cups flour, 1/2 cup sugar, 1 1/2 teaspoons baking powder, 1/4 teaspoon baking soda, 2 tablespoons cocoa powder, and 1/2 teaspoon salt until combined.

Combine wet ingredients: In a large bowl, whisk 2/3 cup buttermilk, 2 large eggs, 1/3 cup vegetable oil, 1 1/2 teaspoons vanilla, 1 teaspoon white vinegar, and red food coloring (start with 1–2 teaspoons gel or 1 tablespoon liquid). Adjust color as needed.

Bring it together: Add the dry mixture to the wet and whisk just until smooth. Do not overmix. The batter should be thick but pipeable.

Fill the molds: Transfer batter to a piping bag or zip-top bag with a corner snipped. Pipe into the molds, filling each 2/3 full. Smooth the tops gently with a spoon if needed.

Air fry the donuts: Place the molds in the preheated air fryer. Cook for 7–9 minutes at 320°F (160°C), until the donuts spring back when touched and a toothpick comes out clean. Work in batches if needed.

Cool briefly: Let the donuts rest in the molds for 3 minutes, then remove to a rack to cool completely before glazing.

Make the cream cheese glaze: Beat 4 ounces softened cream cheese with 2 tablespoons softened butter until smooth. Add 1 1/2 cups powdered sugar, 1 teaspoon vanilla, a pinch of salt, and 2–4 tablespoons milk, a little at a time, until pourable and silky.

Glaze and set: Dip the cooled donuts into the glaze, letting excess drip off. Place on a rack and allow 10–15 minutes for the glaze to set. Add sprinkles or white chocolate shavings if you like.

Serve: Enjoy slightly warm or at room temperature for the best texture and flavor.