Heat a heavy-bottomed pot over medium heat. Add the oil and two popcorn kernels and cover the pot.: The air will fill with a faint warming scent as the coconut oil softens, and the pot will feel evenly warm at the base. You want a steady, moderate heat so the two test kernels warm slowly, preventing the oil from smoking. The purpose of the test kernels is to check that the oil is hot enough to pop without overheating, which would scorch the oil or burn the kernels. If you turn the heat too high you risk a smoky smell and burnt popcorn, so keep the flame moderate and be patient while the oil comes up to temperature.
Once the popcorn has popped the oil is ready. Add the remaining popcorn kernels and return the cover. Remove the pot from the heat for 30 seconds. This ensures the oil doesn't overheat.: You will hear a sharp crack when the test kernels pop, that click signals readiness. After adding the rest of the popcorn kernels , the brief off-heat rest equalizes temperature so the kernels absorb just enough heat to pop evenly when returned to the stove. The pot will be warm to the touch but not smoking. If you skip the 30 seconds you may overheat the kernels, causing some to burn before others pop, so allow this calm pause for best results.
Return the pan to heat. Give the pan a shake every few seconds as you wait for the popcorn to start popping. Once it starts to pop rapidly give the pan a good shake to make sure the kernels pop evenly.: As soon as the pot returns to the burner you will sense a building tension, then a soft patter as the first group of kernels opens. The shakes redistribute kernels so the ones at the bottom do not scorch, and you will hear the popping accelerate into a lively rhythm. The sound is the best guide to timing and evenness. Avoid leaving the pot still because uneven contact with the heat will create burnt spots and many unpopped kernels.
Once the popping has slowed down, and let the steam vent by moving the cover on the pan slightly.: When the popping cadence drops to isolated pops, you will notice steam collecting under the lid. Slightly ajar the cover to let moisture escape, which keeps the popcorn crisp rather than chewy. You may see a few final shy pops, but this is the time to let steam go so the crisp texture stays. A typical error is leaving the lid fully closed which traps steam and softens the popcorn.
Once all the popping has stopped, pour into a large bowl.: The pot will release a warm, nutty aroma as you lift the lid, and emptying the contents quickly prevents residual heat from steaming the finished popcorn. Pouring into a roomy bowl gives space to toss and cool, maintaining crispness. If you leave the popcorn in the hot pot it will steam and lose its crunch, so transfer promptly.
Add toppings while hot and toss until it coats the popcorn evenly.: The hot surface helps melted butter and salt adhere to the popped kernels, giving even coverage and a glossy finish. Start with a light drizzle and toss vigorously, tasting as you go so you do not overdo it. Over-buttering is a common pitfall that makes the popcorn heavy and greasy, so aim for balance and loud, even tossing.
Serve immediately.: The bowl will steam slightly and the aroma will be strongest right away, which is when the textural contrast is at its peak. Serve to friends or family while the popcorn is warm and crisp. If you wait too long the popcorn will cool and settle, losing some of its allure, so plan to serve right after tossing with toppings.