I have had success using coconut oil instead of vegetable oil or shortening by substituting as follows:
To substitute for vegetable oil, use the amount of oil called for in the recipe, melt the coconut oil and be sure that the other ingredients (eggs, liquids, etc.) are at room temperature or at least warm enough so that they do not cool the coconut oil enough to make it solidify.
To substitute for shortening, I use a combination 1/2 butter and 1/2 coconut oil. (Actually the amount of coconut oil can be reduced by about 25%, so in a recipe calling for 1 cup of shortening I would use 1/2 cup butter and 3/8 cup of coconut oil. If you want to use all coconut oil 3/4 cup of coconut oil should work as a substitute for 1 cup of shortening.)
As I have indicated above, I am a great proponent of measuring ingredients by weight rather than volume. Measurements which could be tedious if measured by volume become simple when measured by weight. You will also find that your results are more consistent.
Note about Graham Cracker Recipe: As a child (and an adult) I always enjoyed Graham crackers but quit eating them years ago when I could no longer find any commercially baked ones which didn’t contain hydrogenated oils. After a lot of searching I finally found a recipe which with some modification produced a really excellent Graham cracker. If you like Graham crackers these are well worth the effort it takes to make them.
Taken from: http://www.coconutoil-online.com/Recipes_and_Tips_for_Using_Coconut_Oil.html on December 28, 2012