The energy consumption of conventional air conditioning systems is very high for buildings located in hot and humid climates. Separating sensible and latent loads is an efficient method for reducing energy consumption. In this study a hybrid system wherein the sensible and latent loads are handled separately is analyzed. The performance of the hybrid system is compared with a conventional system. The environment friendly working fluid R-1234yf is considered as the refrigerant. On air side, the proposed hybrid system consists of an enthalpy wheel, a cooling coil and a desiccant wheel. On the refrigerant side, a split condenser and suction line heat exchanger are introduced so that the heat rejected by the condenser can be used for regenerating the desiccant wheel. From the results it is observed that the hybrid system consumes 39-47% less power as compared to the conventional system. The compressor power input decreases as the fraction of room latent load decreases and or the indoor temperature and relative humidity increase. However, these conditions lead to higher supply air flow rate. For the same room conditions and pinch point temperature difference, the conventional system requires larger UA values for the heat exchangers as compared to the hybrid system. The results clearly show the advantage of using the proposed hybrid system both in terms of compressor power input and heat exchanger size.