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I don't let my coco dry out. You could probably let the visible coco at the top of the pot dry out as coco retains a fair bit of moisture so the roots below would not be harmed. I keep a reservoir aerated with my nutrients to keep up dissolved oxygen which I water with daily or even multiple times daily, this introduces fresh oxygen into the root system and gives the same effect oxygen wise that not water as frequently would give (more air space/available oxygen in the root zone).
If you're using drip irrigation it's even better, if you hand water and don't have a good watering wand you'll compact your medium and make your coco very dense in the pot. I had this problem when my wand broke and I was too lazy to replace it the top couple cm of my pots got compact and water had a harder time penetrating into the pots.