Stir together sugar and corn syrup in a 1-quart microwave safe container. A bowl or extra-large measuring cup with a handle would be ideal for safe handling.
Microwave on high for 4 minutes. Mixture will be extremely hot. Stir in peanuts and microwave on high for 3 more minutes. Add coconut oil and vanilla, blending well.
Microwave on high for 1 minute more. Add baking soda and stir until foaminess begins to die down, about 25 strokes.
Carefully pour the hot mixture onto an ungreased cookie sheet. Use a silicone scraper to empty the bowl and spread the candy out. Cool completely. Break into large pieces and store in an airtight container.