Heat the coconut oil in a large pot over medium heat. Add the onion and cook until it softens, about 5 minutes.
Stir in the garlic and ginger. Cook for 1 minute until fragrant.
Add the turmeric and cubed butternut squash. Stir to coat the squash with the spices.
Pour in the vegetable broth. Bring the mixture to a boil, then reduce to a simmer. Cook for 20 minutes until the squash is tender.
Remove the pot from the heat. Stir in the coconut milk.
Use an immersion blender to puree the soup until smooth. Season with salt and black pepper.
Ladle into bowls and top with fresh cilantro before serving.