John Bourke's and Buschi Sergio's answers are correct, but I'd like to put some perspective on them.
I'll call my functors $f:C\to A$ and $g\colon C\to B$, and I want to understand when $\mathrm{LKan}_g f: B\to A$ is colimit preserving. I'll assume that $A$ and $B$ are cocomplete and $C$ is small, so all Kan extensions are pointwise Kan extensions, i.e., satisfying
$$
(\mathrm{LKan}_g f)(b) = \mathrm{colim}_{c,g(c)\to b} f(c).
$$
(The colimit is indexed over the comma category $C\times_B B_{/b}$, but I'll generally write colimits using a representative object of the indexing category.)
I'll show that, for fixed $g$, that $\mathrm{LKan}_gf$ is colimit preserving for every $f$ if and only if it is so for a "universal example" of a left Kan extension along $g$, which turns out to be exactly the "restricted Yoneda functor" of $g$.
First look at the special case of $B=\mathrm{PSh}(C)$, with $g=\rho\colon C\to \mathrm{PSh}(C)$ the Yoneda embedding. Then $\widehat{f}:=\mathrm{LKan}_\rho f \colon \mathrm{Psh}(C)\to A$ is colimit preserving, satisfies $\widehat{f}\rho =f$, and is in fact the essentially unique colimit preserving extension of $f$ to the presheaf category. In particular, if $f=\rho\colon C\to A=\mathrm{PSh}(C)$ is also the Yoneda functor, then $\widehat{\rho}=\mathrm{Id}\colon \mathrm{PSh}(C)\to \mathrm{PSh}(C)$.
The functor $\widehat{f}$ is colimit preserving because it is actually a left adjoint. Its right adjoint is the restricted Yoneda functor $R_f\colon A\to \mathrm{Psh}(C)$, defined by
$$
R_f(a) = [f(-), a]_C
$$
(I'm using $[x,y]_C$ for the hom-set.) To see this, I need to describe a natural bijection between $[\widehat{f}(X), a]_A$ and $[X,R_f(a)]_{\mathrm{Psh(C)}}$, where $X\in \mathrm{PSh}(C)$. When $X=\rho(c)$ is a representable presheaf this is easy, since $\widehat{f}(\rho(c))=f(c)$, while for general $X$ use the facts that $X$ is tautologically a colimit of representables: $X=\mathrm{colim}_{c,\rho(c)\to X}\rho(c)$, while $\widehat{f}=\mathrm{LKan}_\rho f$ is a pointwise Kan extension so $\widehat{f}(X) = \mathrm{colim}_{c,\rho(c)\to X} f(c)$, so we can reduce to the case of representable $X$.
Here is the key claim: the adjoint $R_f$ to the left Kan extension $\widehat{f}=\mathrm{LKan}_\rho f$ is also a left Kan extension.
Claim. We have $R_f=\mathrm{LKan}_f \rho \colon A\to \mathrm{PSh}(C)$.
Proof. Again we have a pointwise Kan extension, so we can compute
$$
(\mathrm{LKan}_f \rho)(a) = \mathrm{colim}_{c,f(c)\to a} [-,c]_C.
$$
Evaluating this at any object $x\in C$ gives
$$
(\mathrm{LKan}_f \rho)(a)(x) = \mathrm{colim}_{c,f(c)\to a} [x,c]_C
= \mathrm{colim}_{c,x\to c, f(c)\to a} *.
$$
The last colimit is the set of components of the indexing category, and is easily seen to be [f(c),a]_C, as desired.
Reversing the roles of $f$ and $g$, we can now answer the original question in the case that $f=\rho\colon C\to \mathrm{Psh}(C)=A$, and for general $g\colon C\to B$.
Corollary. We have $\mathrm{LKan}_g \rho = R_g\colon B\to \mathrm{PSh}(C)$, so it preserves colimits if and only if $[g(c),-]_B \colon B\to \mathrm{Set}$ preserves colimits for all $c\in C$.
To answer the question in entirety, observe that $R_g$ is a kind of universal example of a left Kan extension along $g$.
Proposition. Given functors $f\colon C\to A$ and $g\colon C\to B$, we have
$$
\mathrm{LKan}_g f = \widehat{f} (\mathrm{LKan}_g \rho) = \widehat{f} R_g \colon A\to B,
$$
where $\widehat{f}\colon\mathrm{PSh}(C)\to A$ is the colimit preserving extenison of $A$.
Proof. Because $\widehat{f}$ preserves colimits, both left Kan extensions are computed pointwise using colimits over the same indexing category, and $\widehat{f}\rho=f$.
So now we have an answer.
Theorem. Given $g\colon C\to B$, we have that $\mathrm{LKan}_gf$ preserves colimits for any functor $f$ if and only if $R_g\colon \mathrm{PSh}(C)\to B$ preserves colimits.
Proof. If $R_g$ preserves colimits, then the previous proposition gives that $\mathrm{LKan}_gf$ does too. For the only if direction, remember that $\mathrm{LKan}_g \rho =R_g$.
Note that this criterion is a condition on $g$ only. I don't know of any criterion which is given by a condition on $f$.