In a saucepan, bring water, butter, 2 tablespoons sugar, and salt to a boil. Remove from heat and stir in flour until a ball forms. Let cool for 5 minutes, then beat in eggs one at a time until smooth.
Transfer dough to a piping bag fitted with a large star tip. Pipe 4-5 inch strips onto parchment paper cut to fit your air fryer basket.
Spray churros generously with cooking spray on all sides. Carefully transfer parchment with churros to air fryer basket.
Air fry at 375°F for 10-12 minutes until golden brown and crispy, flipping halfway through.
Mix 1/2 cup sugar with cinnamon in a shallow dish. While churros are still warm, roll them in cinnamon sugar mixture until fully coated. Serve immediately.