I'm not saying it's better than everything else or that there are no possible problems, but it works for me.
I imagine there are a lot of ways to use it safely, and there are a lot of J recipes out there that are probably more stable than the ones I came up with. Boiling the water ahead of time is probably one of the bigger things I never did that would solve most bacteria problems.
I've been using coco oil for 5+ years at this point, and despite the hate for oils in this thread, it is arguably the best thing to use for M/M (Human<Dog) in my opinion.
(1) Coco oil is recommended by many vets for ingesting, or for topical use to combat skin issues. It is generally accepted in providing important vitamins for both humans and dogs.
(2) Coco oil has many antibacterial/anti fungal properties that are completely natural. I have never had any issues with infection in the time I've been using it (My boys do clean themselves, and each other off decently afterwards)
(3) The amount of coco oil you need as a lube is the same amount most vets will recommend In the daily diet of a dog. I'm using between 1-3 table spoons a session, and they do not consume it all either. Most of it will end up in the towel underneath, or stay inside my body.
(4) The cost is reasonable in my opinion for something I/many others including professionals consider completely body safe. If you get a large tub, it will not only last a long time, but be relatively cost effective.
Other than that, It smells great, is good for your own skin, and they do like licking it, which is a bonus for many reasons. I would recommend that anyone considering using coconut oil, only use the amount you would give your dog for 1-2 servings at a time. I would also recommend finding out what the weight of your dog is, the appropriate amount for one serving based off that weight, and only giving them small amounts until you are certain they aren't allergic. If your dog doesn't clean themselves off well afterwards, you should pay attention to ensure bacterial smells aren't developing. Always pay attention to the expiration dates, and use common sense if the oil seems off/spoiled in any way. ATM is also much, much better when coco is involved!