I wouldn't necessarily say coconut oil was better than olive oil or emu. Have tried them both and like them too.
One thing I learnt about olive oil on the hair, if you use if often to deep moisturize and you use color, it could strip it. Emu oil is good to for dry skin but as a cost factor, coconut oil wins.
I will probably still use virgin olive oil on my skin, but for very dry areas I like the coconut.