Coconut oil contains a good quantity of medium-chain fatty acids (MCFAs), which are similar to those present in the oily sebum. Due to the similarity between the MCFAs in sebum and the tropical oil, our skin treats coconut oil like it's moisturizing sebum and so, absorbs it very quickly. There are many benefits of coconut oil for skin that’s why many companies manufactured shower gel coconut because coconut is very beneficial for oily skin.
Since it gets absorbed faster than other oils, the oil of coconut will not leave a greasy film on your skin like other oils do. Needless to say, if you apply a lot of it in one sitting on your skin, it is going to saturate your skin and leave a greasy film.
That said, coconut oil is really great for oily skin.
You may not notice the calming effect of your sebum production until a couple of days or a week of daily application based on individuals. Our skin needs time to detect, fine-tune and respond. So, pretty much a day of this application won't let you see how good coconut oil is for your oily skin.
In addition, do not use coconut oil within an already-oily skin as this can block its absorption. Cleanse your skin thoroughly first before applying the oil to ensure decent absorption of it in your skin.
Though coconut oil is good for treating oily skin, you should couple the treatment with a good diet because food has a pronounced effect on the skin.