subject: The Numerous Health Benefits of Coconut Oil [print this page] Use coconut oil in the same way that you may use olive oil, such as in marinades, salad dressings, or when sauteing vegetables or pan-frying meat. Or, use it in place of butter when baking or making desserts such as icing or ice cream treats. It is even good for your skin and hair. Warm a small amount of beeswax and mix with some coconut oil to create your own skin salve or use as a conditioner for the hair. If it is massaged into the scalp, it can help with the regrowth of damaged hair as well as prevent dryness and flaking of the skin.