For coco, your best bet is always to overwater slightly. It's nearly impossible to overwater enough to hurt the roots in coco, the roots will get plenty of oxygen providing that you have good drainage.
You will want to let your coco dry occasionally though, because constantly wet coco is a sure way to get larvae in your medium.
To answer your question, no, runoff isn't necessary but with coco there's no reason not to water until you have runoff.