As all petroleum products vaseline has zero nourishing qualities. I'd go for shea- or mango-butter instead.
If you want to develop two products for different purposes I suggest creating one wax to firm the moustache and one oil to treat the beard. For the latter broccoli-seed or castor oil come to mind. Or simply almond oil. Broccoli-seed oil is often used as a substitute for silicone products that have anti-frizz properties and add shine. It is very light and dry but you would definitely have to scent it. Not that it is stinky but it's not odorless. Castor oil is very nourishing (also a good treatment for leather clothes!) and more heavy.
Regarding the coconut oil – if you are not keen on the smell be sure to get a deodorized product. When melting the fats and working with shea butter it's helpful to use one of those little milk frothers for mixing the ingredients. Stir from time to time before it hardens again so you avoid the shea butter from getting grainy.
A rough idea on the proportions:
5g bees wax
10g coconut oil
If you want more hold reduce the soft coconut oil in favour of the harder fats. Make small batches to begin with.
And now to your initial question: I quite like the combination of bergamot (bergapten-free), amyris and lavender.
Some of my (bought) facial products have a grapefruit smell and I like it a lot. I should get myself the essential oil, too!