It's not unusual here to see Mangos standing in water for a few months during the wet season. As long as the water is moving or seeping through rather than just pooled and stagnating, it's not an issue. But if you want to raise the tree, better to do it sooner than later when it's a larger. I've seen trees larger than yours moved some distance rather than just raised and they were okay after a slight set back.

Thanks. I will be doing that this weekend. Any suggestions or things to avoid when moving a planted mango tree? I've heard they are very delicate and die easily if we hurt the taproot (?????)

When transplanting trees you can't avoid damaging roots, but you can minimise the damage with care. Before I transplant I soak the soil around for a number of days. I try to time it with rainy periods and do it at the end of the day when it's a bit cooler. The tree also has overnight before it heats up and the sun's out. If necessary I give them some temporary shade for a while. Depending on the tree, I sometimes prune it back a bit to reduce transpiration as the roots won't have the same ability to supply water for a while.

Thanks!