I can't say about the soalr oil (although looking at the ingredients I think it would be fine - Doug Schoon is probably the man to ask). I have been doing a lot of research into oils at the moment and extra virgin coconut oil is meant to be FANTASTIC for all hair and skin needs. It has to be EXTRA VIRGIN though becasue it contains more antioxidents which is better for your skin.
Here is a cutting of some of the info I've found:
Most commercial creams and lotions are predominantly water. Their moisture is quickly absorbed into dry, wrinkled skin. As the water enters the skin, it expands the tissues, like filling a balloon with water, so that wrinkles fade away and the skin feels smoother. But this is only temporary. As soon as the water evaporates or is carried away by the blood stream, the dry, wrinkled skin returns. No matter how hard you try people will never be able to permanently cure dry, wrinkled skin with any commercial body lotion or body care products. Besides the water, most lotions have an oil of some type. This oil is almost always a highly refined vegetable oil devoid of all natural protective antioxidants Extra Virgin Organic Coconut oil is rich in these antioxidants.
I don't know how true it all is in the long term, but I use it on my hair and it's great!