Carly - coconut oil is very high in saturated fat, but so many of my health minded friends swear by it I had to look into it a little -- it seems that despite it's saturated fat content it does not have any cholesterol, and is a healthy cooking fat when used in moderation. Dr. Mary Enig has published a lot of research on the health benefits of coconut oil, if you want to google it. (if anyone has more/better info please let me know!) I use it a deep conditioner for my hair -- but now I think I'll start cooking with it too.
Coconut oil is great but people are turned off by it because of the saturated fat. Do not let that scare you off! It has SO many benefits: it stimulate the thyroid gland (which controls many things including your metabolism and your body temperature), it also has antimicrobial effects. I probably use it most often when making popcorn on the stovetop! There is a great website, coconutoil.com, wihch has studies by doctors and recipes. The brand I buy is Jarrow Formulas and you can find it at Whole Foods and other natural foods stores.
I use a variety of oils depending on what I'm doing. I have coconut oil, peanut oil, grapeseed oil, canola oil and a couple different types of olive oil. I think refined/processed coconut oil is gross. The unprocessed/virgin coconut oil though is pretty good. You can also season your cast iron with it (other oils are kind of icky for that purpose). I have a bottle in my kitchen and a bottle in my bathroom as it is good for some bath uses as well as cooking. I've also given some to my dogs when their skin got itchy and problem was solved.