Question about coconut oil? :)

Hii ^_^
So I read on one of the topics on this board that Coconut oil does not contain protein. BUT it retains protein. So does that mean if I am not using any products with protein in it, it doesn't have anything to retain? Sorry if this is confusing, but I was wondering because I still have half a bottle of Suave Coconut in my closet and I was wondering if I used that as a co-wash, would it dry out my hair if I'm not using anything with protein in it?

Sorry about the long post and thanks in advance! :color:
modified cg - 3a/3b - high porosity - fine hair tends to be flat!

Lowpoo: Organix coconut
Rinse-outs: Tresemme Naturals Moisture, GVPCB, Loreal Vive Pro Hydra Gloss, suave coconut or waterlily
Leave-in: Lustrasilk olive oil or shea butter cholesterol, aussie hair insurance, or regular conditioner
Stylers: Loreal Out of Bed Texturizer, LA looks sport or durahold max hold plus power + volume gel