Select a pot that is just slightly larger than the current one. Do not choose a pot that is too large because the soil will stay wet too long after watering. Wax plants do not tolerate wet soil conditions.
Clean and scrub a used pot with a bleach and water solution that contains 10 percent bleach. This kills any diseases that may remain in the pot from a previous plant.
Place the pot on newspaper or an easy-to-clean surface. Fill it approximately one-fourth of the way with high-quality potting soil that is well-draining and slightly acidic. Potting mixes high in peat or shredded bark are naturally a little acidic.
Remove the hoya plant from its container, using a knife to separate the soil from the pot, if necessary.
Scrape off the top layer of soil if it is crusty from accumulated salts. Examine the sides of the soil as well. If the roots are circling the soil, the plant is root-bound. Take a sharp knife and slice down the sides in four spots to release the roots from this pattern. It the roots are not circling the soil, the plant likely doesn't need repotting and can be put back into its old container.
Dig a hole in the soil of the new pot and place the wax plant, soil and all, in the center of the pot. Add more soil around the sides of the plant. The plant should be planted just as deep as it was in its old container.
Water Hoya carnosa "Compacta" thoroughly until the excess water seeps out the drainage holes at the bottom of the pot. Dump out any water that collects in the drainage dish.