I looked up negative effects of coconut oil and here is a link. Seems that there is no definitive evidence and note that the naysayers or cautioners are those associated with FDA and the like, which always makes me leery of the motive.
Bad Effects Of Using Coconut Oil | LIVESTRONG.COM
Seems that the argument re being a saturated fat is flawed as coconut oil has a different chain of molecules that make it different from other saturated fats. It may or may not be the "miracle" oil that some think of it as, but from all that I've read on both sides, it is still the only oil I use for cooking and I use olive oil for salads and uncooked uses. The one oil I stopped using years ago was canola oil, but that's another story!
LW888