I have not found a study that clearly shows any harmful effects of
coconut oil. Several studies show that coconut oil does not challenge
the anti-lipid peroxidation mechanisms as do poly unsaturated fatty
acids like flax or fish oil. Lipid peroxidation is one of the most
interesting current theories of aging.

I take flax oil and vitamin E & A. And I use coconut oil for a lot of my
cooking. Olive oil oxidizes at moderate cooking temperatures. Oxidation
of oils is a big concern and coconut oil doesn't oxidize at these
temperatures, so I believe it to be safer.

Malays have a low rate of heart disease compared to Indians and Chinese
who live in Malaysia. Malays use coconut milk in their cooking as the
primary fat (or they used to, now palm oil and palm olein are becoming
more common.)

And yes, you can hydrogenate coconut oils. Macadamia nuts have
traditionally been roasted in hydrogenated coconut oil, for example, and
this form of oil was used in practically every processed food item
calling for shelf-stable oil until the last few years.

--Richard