answer:As long as it’s virgin coconut oil, you have nothing to worry about. As a matter of fact, it will most likely help preserve the color by protecting it from harsh water and the sun. Coconut oil is truly one of nature’s “miracles”. It can be used for so many things. Make sure it’s virgin coconut oil, though. If it doesn’t smell or taste like coconut, that means it’s been bleached and processed, and not nearly as beneficial.