what are the effects of coconut oil on cholesterol levels? select all that apply. what are the effects of coconut oil on cholesterol levels? select all that apply. coconut oil lowers ldl cholesterol levels when it is used instead of gmo corn oils. coconut oil lowers total cholesterol when it is combined with whole grains. coconut oil increases hdl cholesterol levels more than other fats. coconut oil increases ldl cholesterol levels, but not as much as animal fats do.