Add a few inches of water to the bottom of a small pan and heat over medium heat.
Place a small heat-safe jar (pint size or smaller) in the water, being careful not to get any water inside the jar. You can also use a double boiler or a glass bowl perched on top of a small pot of water.
Add the cocoa butter, coconut oil, and one tablespoon beeswax to the jar and slowly melt, stirring occasionally. Make sure not to get any water in the jar.
When all the ingredients are melted, stir well and turn off the heat. Leave jar in the water to keep warm.
Stir in the essential oils.
Use a glass dropper to quickly fill the lip balm containers, like tubes or lip balm tins.
The mixture will settle slightly as it cools, so I top off the containers after about 2 minutes as they start to harden.
Let sit without touching for several hours or until completely hardened.
Notes
Shelf life and Storage: Keep in a cool, dry place for up about 2 years. The optional vitamin E oil helps extend the shelf life even further.
This will make a medium firm lip balm. If you prefer a firmer version, you can add more beeswax, up to double the recommended amount. If you prefer a smoother and more oily lip balm, you can reduce the amount of beeswax.