This is such a great question.
Coconut oil has gotten very popular for its touted benefits. However, you have noticed correctly that it is very high in saturated fat. In fact, coconut oil has more saturated fat than butter and lard.
In general, a healthful diet includes greater amounts of unsaturated fats and less saturated fats.
Research suggests that replacing coconut oil with unsaturated fats, like olive oil and canola oil, may be more beneficial for overall health.1
However, there are also studies that show that coconut oil is beneficial. Navigating the research can be confusing but, in general, coconut oil may not be as healthy as advertised and is not a necessary part of a healthful pattern of eating.
Great job asking good questions and considering the facts!
1. Eyres L, Eyres MF, Chisholm A, Brown RC. Coconut oil consumption and cardiovascular risk factors in humans. Nutr Rev. 2016 Apr;74(4):267-80. doi: 10.1093/nutrit/nuw002. Epub 2016 Mar 5. Available from: https://www.ncbi.nlm.nih.gov/pubmed/26946252