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1 Substitute coconut oil on a 1-1 ratio for oil or butter. Melt the oil and cool it to just above room temperature before measuring it.  Use a ratio of 3/4 to 1 when substituting coconut oil for shortening. Use the oil in its solid state or melt it first.
If your recipe calls for melted coconut oil, you can substitute it with your favorite baking or cooking oil. I lean toward grapeseed oil and olive oil, but you might like canola or vegetable. They will all work comparably as a substitute for coconut oil in recipes.ust be sure to pick an organic or non-GMO variety. Fat + Liquid â If the coconut milk is used in a baked good, then you can simply replace it with a combination of oil or dairy-free margarine and additional liquid. The liquid could be a low fat milk alternative, juice, or water.