Making homemade coconut oil soap involves combining coconut oil, water, lye, and any desired fragrances or additives. The coconut oil is melted down and combined with lye and water, which triggers a chemical reaction called saponification. The mixture is then stirred constantly until it reaches the desired consistency, at which point fragrances or any additional ingredients can be added. The soap is then poured into molds and left to cure for several weeks before use. It is important to take necessary safety precautions when working with lye, including wearing gloves and eye protection.