Coconut and palm oil both contain high amounts of saturated fat but unlike the saturated fat found in red meat, which are long chain triglycerides, coconut/palm oils contain middle chain triglycerides (MCT's) which are never stored as fat in the body. I have grown up in the natural foods industry and seen the view of coconut/palm oil go from being the main oil for deep fat frying (1950's - 1960's) and a healthy food used for centuries by Polynesian islanders with no ill affects like heart disease etc., to being seen as a dangerous fat due to its high saturated fat content. In the 70's when we started learning more about unhealthy fats like the saturated fat in red meats, the vegetable oil companies knowing that coconut/palm oils were high in saturated fat began a campaign to promote polyunsaturated fats found in vegetable oils to be healthier than the saturated fat found in coconut/palm oils. This campaign was very successful and even those in the natural foods industry were converted, even though there was no hard evidence showing the saturated fat MCT's to be unhealthy.
Coconut oil is one of the best cooking oils because it has a very high smoking point so carcinogens are not created when it reaches high cooking temperatures like other vegetable oils. I have seen many people get amazing weight loss results, and for body builders reduced body fat levels allowing more cut and defined muscle. When used as a dietary supplement in therapeutic doses (2+ tablespoons daily) MCT oils like coconut/palm oil, will increase a person's basal metabolic rate which means you will burn more calories in a resting state. I have personally seen these results replicated many times. Example: One gentlemen came into the store appearing fit enough and not looking overweight but he told me he had lost 40 pounds in 3 months and the only thing he changed in his routine was to take a tablespoon of MCT oil every morning and evening. I have dozens of body builders that have had fantastic results using MCT oils to reduce body fat and get cut defined muscles for competition.