More than twenty five years of research and development efforts on coconut wood processing and utilization by the Forest Products Research & Development Institute (FPRDI) and related Institutions have yielded valuable information and knowledge on cocowood, these valuable resource, fondly called the "tree of life" in the Asia Pacific region. This paper presents and overview of the current situation, prospects and Industry problems of the Coconut Wood Industry in the Phihppines. In 1994, FPRDI, successfully implemented a 3-year project entitled, "Technology Transfer/Commercialization of Selected Cocowood Utilization Technologies", jointly funded by the International Tropical Timber Organization (ITTO) and the Common Fund for Commodities (CFC). Six (6) selected technologies namely: 1) Lumbering; 2) Coir dust utilization; 3) Furniture; 4) Pallets; 5) Cocowood-based wares and cocowoodcraft; 6) High Pressure Sap Displacement - treated utility poles are descnbed, as well as the technotransfer methodologies used and their impact on the adopters and the Philippine Coconut Wood Industry. Cocowood Marketing is also discussed.