I'm using DreamHost to host the domain craftnetwork.co. The Minecraft Server needs to be hosted on subdomain.craftnetwork.co. Can I setup DNS records to direct users to a website when in a browser and the server IP when in Minecraft?
If you are already pointing subdomain.craftnetwork.co to your server that is hosting the minecraft server then you can host the web server on the same server no problem and no further changes need to be done since minecraft will not be running on port 80 which web servers do.
If you want to redirect subdomain.craftnetwork.co to a web server that is not hosted on the same server then you're need to host it on another subdomain since your DNS will be pointing at the minecraft server. You could setup a tunnel but I don't advise it, its more hassle than its worth. The best method would be to host the website on the same server, or use www.