I agree, it's Hilo beauty, aside from the drought, which is no doubt taking a serious toll, but also, it's very clear that your HB has multipled, I meant to ask how many plants of are in that clump in another thread.
Clearly a few, they are likely restricting( constricting!) one another, I'd wager if you divide while it's dormant and split them out, several would take right back off next year!
Rapidly growing aroids can really put a hurtin on soil, even ones that seem less aggressive and small growing can deplete regular soil in no time!
My experiments with submerging have shown me that, counterintuitively, it will cause most Colocasia to become even that much more hungry, and if submerged in a bucket, the end result will be much more numerous, smaller, plants, that tend to hold their petiole straight up, and point the leaf tip straight down.
Most any colo will tolerate thus treatment, some much better than others, C. illistris does well, C violica will only do well if given alot of foot space and alot of fert, not always easy when submerged, but plant C. Violica in the margin of a boggy pond, and look out! If you sit still you can heard them grow...