The phase behavior of lipids extracted from Astrocaryum vulgare (AV) and Astrocaryum aculeatum (AA) pulp and kernels and their microstructural, thermal and flow properties were studied. The lipid profiles, crystal structures, microstructures, thermal stabilities and flow behaviors of these lipids provided important structure–function information that are useful to assess potential applications in the food, cosmetic and pharmaceutical industries. AV and AA fruits were sourced from the lowlands and rainforests, respectively, of Guyana. AV and AA pulp oils (AVP and AAP) were distinguished from each other in composition and unsaturation, with AVP oils being predominated by a di-unsaturated TAG (2-(palmitoyloxy)propane-1,3-diyl dioleate (POO)) and AAP oils predominated by propane-1,2,3-triyl trioleate (OOO); there were unsaturation levels of 65% and 80%, respectively. The main fatty acids in AVP oils were oleic, palmitic and stearic; for AAP, these were oleic, linoleic, palmitic and stearic. The kernel fats of AV and AA were similar in composition and had saturation levels of 80%, being mainly comprised of tri-saturated TAGs propane-1,2,3-triyl tridodecanoate (LLL) and 3-(tetradecanoyloxy)propane-1,2-diyl didodecanoate (LML). The onset of mass loss (T5%on) of AV and AA pulp oils were similar at 328 ± 6 °C, which were 31 °C ± 9 higher compared to that of the kernel fats, which demonstrated similar T5%on = 293 ± 7 °C. AA and AV pulp oils were liquid at room temperature, with melting points of −5 ± 1 °C and 3 ± 1 °C, respectively; both kernel fats were solid at room temperature, packing in β′ (90% of crystals) and β (10% of crystals) polymorphic forms and melting almost identically at 30 ± 1 °C. Pulp oils demonstrated sporadic nucleation at the onset of crystallization with slow growth into rod-shaped crystallites, leading to an approximately 50% degree of crystallization at undercooling of approximately 40K. Nucleation for kernel fats was instantaneous at undercooling of approximately 23K, demonstrating a spherulitic growth pattern incorporating crystalline lamella and a 90% degree of crystallization. Kernel fats and pulp oils demonstrated Newtonian flow behavior and similar dynamic viscosity in the melt, approximately 28.5 mPa·s at 40 °C. The lipid profiles of AVP and AAP oils were dominated by unsaturated TAGs, suggesting potential nutrition and health benefits, particularly compared to other tropical oils with higher saturation levels, such as palm oil. AAP oil in particular is as unsaturated as olive oil, contains high levels of beta carotene and provides a unique flavor profile. The AAK and AVK lipid profiles and phase transformation indicate potential for applications where a high solid fat content and medium-chain fatty acids are required. Their high lauric and myristic acid content makes them similar to industrially important tropical oils (coconut and palm kernel), suggesting their use in similar formulations. The melting point and plasticity of the kernel fats are similar to that of cocoa and shea butters, suggesting use as replacements in cosmetics, foods and confections. There is, however, the need to better understand their nutritional status and effects on health.