I have found coconut oil to be useful for many things.
I personally keep a bit in the fridge to solidify, then scrape shavings into a chocolate casein pudding (eg. Bodynutrition Magic Pudding or ON Gold Standard Casein) to make a nice chocolate dessert with coconut chunks. The coconut oil adds good fats to the dessert and turns the chocolate protein into a nice chocolate-coconut combo (delicious!)
I also use it with asian style dishes to fry in (adding it like I would butter to the pan), and as a key ingredient in many healthy protein recipes (like those on Derek Howe's blog).
My mother also uses it as a skin moisturiser and tells me it works wonders for that.
But I would only recommend such a large size if you are going to be using it for many reasons, as this size would last me years for the occasional pudding!