According to Jessica Weiser, MD, of New York Dermatology Group , “Coconut oil is a saturated fat that is high in medium-chain fatty acids, which, when applied to the skin, have been shown to improve the barrier function and hydrate the skin.” The CliffsNotes on coconut: It’s one of the buzzy “new” ingredients that people have been using for every purpose imaginable — eating, cooking, brushing their teeth, and slathering onto their faces and bodies. And it seems that nearly everyone — well, not everyone — is pretty obsessed.