Yes, coconut oil can be helpful with cold sores as it contains types of good fats that have antibiotic, antiviral and antifungal properties. It also has caprylic and dodecanoic acid which can support the immune system and help fight the cold sore virus. While coconut oil might not provide a full and complete treatment, it can help to support your immune system if taken orally and soothe and moisturize your skin if applied to the cold sore.