Ive had one over a year now in a large pot. Its doubled in size and made a baby. I keep it in part sun. Lots of morning and late afternoon sun but overhead shade from trees during the hottest part of the day. It seems to grow best when it stays evenly moist (loved all the rain in summer) although it didn't die when i would occasionally miss watering it. In the ground I would expect it to grow even better. I would definitely amend the soil with some compost and mulch it really well.

I have these plants and I agree on amending the soil. You still want it well drained but it likes to have a richer soil than sand. It likes to be watered but since it is an alocasia, it doesn't like as much water as a colocasia especially in the winter or the roots/corm will certainly rot.
I give full morning sun and dappled afternoon shade. Seems to do okay.
You could also keep it in a large pot as if you wanted to and move it around to see where it likes it best in your yard. I would mix a lot of perlite into the potting soil (maybe a 1/4 perlite) and perhaps some medium sized orchids potting media as well, to keep the soil loose.

Thank you for the feedback. Can you tell me if it will grow/live in its 3 gallon pot, inside on a screened in porch? The soil its in seems to be very rich, the plant is doing very well in it. It is about 4ft tall and has a baby coming up. But will this big one be susceptible to spider mites, like my other baby one was? Or once they get to this size, they are immune to them? If not, what can be sprayed on them and not kill the plant? I tend to get things that SAY they are for houseplants/rose/flowering plants, I spray them and the plant is dead within a week! Including the Bayer products, that are suppose to be SO great for next to everything. That was an expensive spray & lesson.