Pop the Popcorn:
Heat the coconut oil in a large, heavy-bottomed pot over medium heat. Add a few kernels and cover the pot with a lid.
Once the test kernels pop, add the remaining popcorn kernels. Cover the pot and shake gently to coat the kernels in oil.
Continue cooking, shaking the pot occasionally, until the popping slows down to about 2 seconds between pops. Remove from heat immediately to avoid burning.
Season the Popcorn:
Transfer the freshly popped popcorn to a large bowl.
In a small bowl, mix the nutritional yeast, garlic powder, onion powder, paprika (if using), and salt.
Sprinkle the seasoning mix over the popcorn while tossing to coat evenly. For better adhesion, drizzle a tiny bit of melted coconut oil over the popcorn before adding the seasoning.
Serve:
Serve the vegan 'cheesy' popcorn immediately in a large bowl and enjoy!