Can I reuse coconut oil for cooking?
For most oils, you can re-use them several times, if you're OK with (or want) the flavors the oil takes on from the food cooked in it.

The thing to watch is the smoke point. That's when the oil starts sending off whisps of smoke. For coconut oil, that's 350F. As oil is re-used, that smoke point starts to drop until it's no longer able to stay hot enough to properly fry food. 

We're dealing with an oil that has a relatively low smoke point in the first place at 350F, as opposed to 450F for peanut oil, and proper frying needs to be pretty close to 350F in order to have the moisture in the food hold out the oil from rushing into the food like a sponge. That, unfortunately means that coconut oil isn't a great candidate for re-use.