Coconut Oil naturally contains vitamins and essential fatty acids which is essential to thicker hair and hair growth.
So yes by using Coconut Oil in your hair your hair can grow faster and thicker as a result.
The natural vitamins and essential fatty acids contained in Coconut Oil also help remove Sebum and nourishes the scalp and hair follicles.
A good way to use Coconut Oil for hair growth is to do warm the coconut oil up and do a hot oil treatment then put on a shower cap and leave the warm coconut oil in your hair overnight.
Then in the morning wash the coconut oil out of your hair using your regular shampoo.
I've noticed great results when using coconut oil in my hair and my hair has grown thicker and faster as a result.