Not only is there nothing wrong with it, I recommend high coconut oil intake.
I agree with mertdawg that overall "saturated" is not in and of itself bad. It's too broad a label.
For example, grass-fed beef still has a lot of saturated fat, but an excellent balance of individual types of fats. There's no evidence at all that it's anything but a positive to health.
If high intake of high-fat ground beef from corn-fed cattle is a problem, for example, the popular thing is to blame the saturated fat content, but the stronger evidence is that it's the abnormally-high linoleic acid (unsaturated fat) content that's correlated with increased cardiovascular risk.
Don't worry about saturated vs unsaturated particularly, but rather consider the individual fats. Coconut oil is fine.