I think coconut oil has more of the properties of a saturated fat like olive oil, as in the "good" fat. I hardly use butter, except when baking (rare thing), and was cooking almost exclusively with olive oil. I started using coconut oil about 4 months ago, and I would say that I am now using it 85% of the time. I have stopped using margarine, even though I use the kind made with yogurt. I still have it in the house, but I think I am going to quit buying it. DH uses butter to cook his eggs, so that is staying.
The coconut oil I use for cooking has no taste, so it works much better than olive oil for a lot of recipes. I guess the proof will be in my cholesterol readings later in the spring.