Is coconut oil healthy or is that a myth?

The health claims are not supported. Coconut oil is around 80 to 90 percent saturated fat, and controlled trials consistently show it raises LDL cholesterol compared with unsaturated oils — more than most other commonly used cooking oils. The medium-chain triglyceride argument is largely extrapolated from studies using purified MCT oil, which has a different composition from the coconut oil sold for cooking. It is not uniquely harmful and using it occasionally for flavour, as in traditional Kerala cooking, is not a problem. Using it as a health food, or in large quantities in place of unsaturated oils, is not supported.