I get this question a lot! Mostly, when discussing cooking oils. So here are my thoughts on coconut oil. Yes, it is a saturated fat, it is actually one of the few found in the plant-kingdom, and a significant percentage of that saturated fat is composed of Lauric acid, which is (comparatively speaking) quickly and easily metabolised as a very good energy source.
This means you are likely to burn the kind of saturated fat found in coconut oil for fuel rather than pack it away as fat, provided you are sufficiently active and it isn’t digested along with something high in sugar to supersede & hijack your metabolism first. An example of this would be vegan treats such as cheesecake where coconut oil is mixed with lots of maple or date syrup and nuts to create the dairy-free cheesecake filling.
Coconut oil is the optimal oil to cook with — if you are going to cook with oil — due to the fact that it holds up (meaning it does not oxidize) better than other oils at high temperatures (translation – less free radicals). It is immune boosting, has anti-infection properties and some studies suggest it aids with the absorption of certain vitamins and other nutrients like beta-carotene and some amino acids.
That said I use coconut oil very rarely in my cooking. In fact, I rub more on my skin than I consume in my diet!