If you have plans of transplanting it, better do it soon, as it is nearing the end dormancy stage and getting ready for the spring growing stage.
You have palm trees, so I'm guessing it's not too cold where you're at....
Since the area around it is already wet (better if it's damp+), you should have no problem digging a little further around the root ball to avoid damaging any new root growth.
Fill then empty hole with water and the recommend dose of vitamin B twice, draining fully each time.
This will assure the surrounding areas of the new hole are wet enough to draw any new root growth to it, as opposed to the hit and miss approach of placing the hose at the trees base later.
Have the new hole at the ready, then give it another dose of vitamin B when planted.
A real easy fix would be to have a hose slowly dripping at the edge of it's 'drip line', where rain naturally drips off the end of its widest branches, as this determines where the new (important) roots have extended to on mature plantings..
In your case, place it a few inches of its young root ball, again this will draw the roots to the water.
I had a big yard with lots of bamboo and Musa (both water guzzlers) and lots of hose bibs.
I merely disassembled one, put a slight cut in the washer so it dripped at my desired rate, then just moved the hose from plant to plant/grove to grove, as slow-deep watering is best.
