Coconut oil is an excellent massage oil for the skin as well. It acts as an effective moisturizer on all types of skin, including dry skin. The benefit of coconut oil on the skin is comparable to that of mineral oil. Fortunately, unlike mineral oil, there is no chance of having any adverse side effects on the skin from the application of coconut oil. Coconut oil therefore is a safe solution for preventing dryness and flaking of skin.