Where in the world are you? Is the plant in a pot or in the ground?

Sorry, I live in California, near San Diego. The plant is in the ground. I have sandy loam soil. I am wondering how often to water this plant. Should I water thoroughly, and allow it to dry out?

Water only enough to get it established. I grow it in a container (not winter hardy here) and maybe water it once a week.....sometimes less.

Gardengal is correct. They don't like too much water, need great drainage (sounds like you have that), and do not like fertilising. Maybe a little topdressing with compost and a light mulch. The biggest killer of this species is root rot, so only water if absolutely necessary. The plant will tell you when.