Home Cooking Techniques Cooking Techniques 7 Ways to Cook with Coconut Oil By F&W Editors December 10, 2015 facebook twitter pinterest email pinterest © Sarah Bolla Coconut oil is a great substitute for butter in baked goods, and its mild tropical flavor can also enhance a range of dishes from soup to grains. Here, seven fantastic ways to cook with coconut oil. 1. Pancakes Mixing ground flax and coconut oil into the batter adds nutritional value to these delicious pancakes. pinterest Or try these savory pancakes. Gluten-Free Recipes Healthy Soups Quick Grains pinterest 2. Cinnamon Rolls Coconut oil replaces butter in these delicious dairy-free pumpkin cinnamon rolls.