With all the rain so far this winter in Southern California, the ground is consistently wet. My question is, should I water only when the moisture meter gets out of the "wet" zone and back to the "moist" zone? I recently planted 4 figs in the yard, and they have pearlite, compost and well-draining sand. All have a layer of mulch on top. Each plant is 1-to-2 years old, and only 1 has broken dormancy. The other 3 are still just whips. Any advice would be very appreciated. 

 Your right, it has been very wet. If your figs haven't broken dormancy, it is not taking much water for transpiration until the leaves really start moving moisture from the roots and pumping water and nutrients back and forth from the roots to leaves and branches and back to the roots.  As far as watering, I usually just push my finger as far into the soil as I can and water when it feels close to dry. This summer you'll need plenty of water, but for now the plant really doesn't need it. Just my 2 cents.
  

Yep, I haven't watered in almost 3 1/2 months, a record for me down here in San Diego. I'd hold off a little longer!  My figs have broken dormancy and are pushing leaves, but I can probably hold off watering until next week.

Thanks a million Noel and JCT! :) Really appreciate your kind help!