To make the popcorn, add a tablespoon of coconut oil to a large, heavy bottomed pot with a lid on and heat over medium. Add three popcorn kernels.
When the first three kernels pop, add in the rest of the kernels. Heat, shaking the pot often, until there are a few seconds between pops and all or most of the kernels have popped. Remove from heat and turn heat off.
In the meantime, melt the butter and coconut oil together, then add the sriracha sauce and stir together. When the kernels are popped, drizzle with butter mixture, sprinkle with salt and pepper, then toss or stir to mix. Repeat until butter mixture is all gone.