1 - It's a Medium String Fatty Acid so it doesn't go rancid. Olive Oil and many other oils, on the other hand, go rancid.
2 - It's great on your skin. I have always been a great believer that if you can't eat it, you shouldn't put it on your skin. Coconut oil is edible, and you can put it on your skin.
3 - You can use it for all your cooking (or non-cooking if you're into raw food). I add coconut oil to pretty much every meal I cook and together with butter it absorbs flavours. It does require a little time before you get used to the taste.
4 - It can go in your hair either as a hair wash or as a conditioner. Indian people have known this for years. It even pulls toxins from your hair follicles.
5 - You can use it to pull toxins from your mouth by coconut pulling. It's a great mouthwash. Coconut oil pulling regularly can assist in the relieving of many mouth conditions.
6 - It has been used for many centuries to alleviate signs and symptoms of various diseases.
Coconut Cures by Bruce Fife is a great book and it goes into the benefits of coconut oil in far more detail. I highly recommend reading this book if you have an interest in using coconut oil.