I've read a bit about coconut oil, and it's convinced me to not be afraid of it, but I wouldn't go overboard and start chugging it down. I've seen several jars from different manufacturers that caution against using more than 4 Tbsp a day.
I think a first good step for using coconut oil is to use it on the skin. For one thing, the medium-chain fatty acids are very similar to the natural oils in our skins, and the oil has some antibacterial, antiviral properties that make it a good skin protectant.
For another, it smells wonderful and softens well.
Last year, I had an aweful case of poison ivy that reached my face, and left it looking like either I had been in a fire, or had become a fish, as the skin was scaling off. I started putting coconut butter/oil (they are the same :'butter' when it's solid, 'oil' when it melts at above 80 degrees or so) on, and it helped it heal and soften.
A large percentage of what we put on our skins is absorbed into our system (the reason why stop-smoking and birth-control 'patches' work), so using coconut oil as a facial and body moisturizer can give some of the same benefits as ingesting it, without the calories!
I've tried several different types of coconut oil, but only recommend the raw/unheated types, which are less processed. (The term "extra virgin" seems to be applied to the coconut oils that use low-heat methods of extraction that keep the oil 'raw').
My favorite is Raw Coconut Dream from
http://www.livingtreecommunity.com/ . Smells fabulous! Like real coconut (which makes sense, but overly processed coconut oil has a very neutral scent or no scent...like it's half dead). I have been known to eat it by the spoonful, and I just made some dehydrated coconut macaroons using it.
