for a USDA zone 9 I would think that may dry out very fast particularly if you are in a very hot or intense sun location. Could you use it? yes. Should you use it? maybe if you don't mind what could be multiple waterings per day.

I live in zone 10a (Glendale, California), and 50% Vigoro perlite and 50% Miracle Grow Potting soil has worked well for rooting and growing Plumeria in pots. It works wonders for rooting roses as well. It's relatively cheap too if you buy the big bags of each at HD. You can make fancier mixes, but this has performed well for me and has a good price/performance ratio.