Back home in Sri Lanka, coconut trees are everywhere, and is used in almost all foods. Everything from coconut oil, coconut milk used in every curry (scrape the coconut and then compress to extract the milk), scraped coconut for other various food preparations, coconut water, ferment the coconut water and you have a mild alcoholic beverage, coconut oil for lamps, and many other household uses etc....
This coconut fad that's going around now is only popular (especially in the US) because some big company decided to market it out here, but this has been extensively used for many, many, many centuries. As for the health concerns, especially from the extensive useage of it back home, we've attributed a longer/healthier life due to the use of coconut products. Of course, we've also taken it for granted that "too much of anything, is good for nothing" and moderation is always the key.