That could be due to a number of reasons. Did you give it too much sun and/or too little water? Did you inspect the roots, are they rotted? Have you noticed any pests?

I haven't seen any pests and haven't checked the roots. I had it about 6 feet back from a west window and I don't think I've been over watering but I could be wrong.

Over watered? It looks underwatered, to me. Being in that clay pot with that dry mix, my best guess is that it dries out way too fast and doesn't hold on to too much moisture whenever you do water it.

I have mine growing outside, hanging from my roof, where it gets plenty of bright indirect sunlight all day long, and I spray it down every evening when the sun sets. Not only is it growing like a weed, but it's currently blooming, too.

Should I move it into a ceramic pot then for better moisture control?

Sorry, but no, plastic pot is better for Hoyas, these aren't really succulents, tho' some folks say so. They're more epiphytes, growing up trees into the canopy & in semitropic / tropical areas that also means moisture.

I agree w/ Photo, the wrinkliness (?) looks to me like thirst. If yours is indoors, I'd put it on a pebble tray as I have all my Hoyas, helps w/ humidity.

Misting will help, its dehydrated, mine does that sometimes

Mine does that if neglected for longer than it should be. So I would say lack of water rather than overwatering.

I rarely mist my Hoyas but would strongly suggest against it on this one 'cause of all of the nooks & crannies, which also makes me check mine for mealy bugs which like to hide in the nooks & crannies.