I use coconut oil whenever I'd use a fat for sauteeing. I have cut out most sugar, so don't really use it for baking. I use olive oil if I make a bread.
I'd think you'd just have to remember coconut oil is 100 percent oil, and butter is oil (butterfat) and a percentage of water. Generic butter has a higher water concentration, that's why it's cheaper.
Perhaps you could reduce the "oil" by 1/3rd and then add in applesauce, yogurt, milk, something for the lost 1/3rd?