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Use it in place of butter when I can't or don't want to use dairy.
I've used it for baking-cookies, muffins and a coconut pound cake. I think that baked goods made w/ coc oil keep just about as well as w/ butter. I thought that the texture and flavor were almost as good as butter and that the coconut pound cake w/ coc oil was superior. I attempted a coconut butter cream (Italian meringue), but didn't really like it; I think my recipe needs more tweaking. I haven't given up on it yet!
I have sauteed vegetables in it - for dishes with a Southeast Asian flavor profile as well as Indian dishes, a subtle coconut flavor underlies the dish and is very pleasant to me.