Whatever quality you get, unless it's fractionated coconut oil, is in a consistency of shortening, and if you live in a higher temp locale, you want it in a cool dark place because it WILL liquify. Fractionated coconut oil has all the beneficial parts of the oil separated, and is in a liquid state, and is used in perfuming, as well as your normal cooking purposes.
I've gotten high quality organic coconut oil at the health food store, and standard coconut oil at the bulk place, and very little difference in aroma, storage and usage. I will say that I have been making my body butters and soaps for over 20 years, so I think it's safe to say I know a bit about product.
I use it in place of corn and peanut oil in a lot of recipes due to friends having corn and peanut allergies.
I also use it in a body butter.
2 oz beeswax
2 oz coconut oil
2 oz almond oil
2 oz olive oil
2 oz shea butter
Melt all in double boiler, pour into heat safe containers(I recycle old altoids tins), then add essential oils, and let cool completely...If it's too soft, scrape back into double boiler and add more beeswax.
All of these oils have healing properties, and the beeswax helps seal in moisture. If you want to make a lip balm, add food grade flavours like peppermint, otherwise use essential oils. My favourite are lavender and peppermint(20 drops lavender and 8 drops peppermint).
The balm is good for dry skin, and also for our tired feet, and works great on softening calluses. Perfumed, you can also use a small bit to add shine and scent to your hair. Just rub a small amount into your hands to melt it, then rub it into your hair. Some people use just the coconut oil and beeswax for the above balm recipe, but I like the different properties of the oils I use in my blend. Using just coconut oil will have a lower melt point as well, and is good for perfumed massage cremes.
You can also make a castile soap out of it, which I will not list a recipe here because unless you've made soap before, can get messy(working with lye, and you cannot have saponification without lye, unless you are just rebatching).
Hope this helps.