Enables palmitoyl-(protein) hydrolase activity. Involved in several processes, including negative regulation of protein localization to microtubule; positive regulation of protein localization to endosome; and protein depalmitoylation. Located in plasma membrane; postsynaptic density; and recycling endosome membrane. Is active in glutamatergic synapse. Is anchored component of postsynaptic density membrane and anchored component of postsynaptic recycling endosome membrane. Orthologous to human ABHD17A (abhydrolase domain containing 17A, depalmitoylase). [provided by Alliance of Genome Resources, Apr 2022]