Combine 2 1/2 cups flour, sugar, yeast, and salt in the bowl of a stand mixer fitted with a paddle attachment. Heat milk, water, and 1/3 cup coconut oil in a saucepan until a thermometer inserted into the mixture reads 120 degrees F (49 degrees C), 2 to 3 minutes. Pour milk mixture over flour; beat together on high speed until combined, about 2 minutes. Stir in remaining 2 1/2 cups flour until a soft, sticky dough forms. Turn dough out onto a lightly floured surface and knead until smooth and elastic, about 10 minutes. Place dough in a bowl; cover with a towel and let rise in a warm place until doubled in volume, about 30 minutes. Grease 24 muffin cups. Divide dough into 48 equal-sized balls; place 2 balls into each prepared muffin cup. Cover with a towel and let rise in a warm place until doubled in volume, about 30 minutes. Preheat oven to 375 degrees F (190 degrees C). Bake in the preheated oven until golden brown, about 20 minutes. Brush tops with 1 tablespoon coconut oil.