I would, as they DO NOT like drying out and I imagine it is top heavy. Palms don't need big containers but this one looks too small for the plant. Water it more regularly than you would other palms..., I have even let this one sit in a shallow dish of water. In nature, it grows in water-saturated riverbank soils (which IS a bit unusual for palms).

Cactus/palm soil?

I am assuming you mean a commercially prepared mix. I am not fond of Miracle Gro Plam &Cactus (or Citrus or however they market it), too much peat moss in their soils. I like to work some coarse sand, perlite, and humus in the mix. I guess you can but their stuff and amend it as needed. All my palms summer outside and the peaty soils bake in the sun and become impervious to water. Speaking of sun, this one does NOT need full sun. Partial sun, dappled, morning sun, filtered sun all better than full sun (if outside for the season). They're nice indoor palms as long as you keep them moist (humidity in the winter helps too).