I received Hoya bicolor from a very nice woman named Hannah from Hawaii mid-summer last year (2021). It was a rooted cutting in potting soil when I received it so I kept it that way. It put on exceptional growth and needed to be up-potted several times over the next few months. It was not long before peduncles began to form in several areas of the plant, but the first few sets of buds blasted. I new however that since it was such a vigorous plant that it was only a matter of time until it would keep its buds and bloom. Finally all of the peduncles began to produce buds that did not blast in March of this year (2022) and flowered shortly after. The blooms smell strongly of Lemon Pledge Furniture Polish.
Hoya bicolor was published by Dale Kloppenburg in 2002 and is endemic to the Philippines. Except for a little difference in leaf thickness and shape, I can really tell very little difference between Hoya bicolor and Hoya incrassata. The flowers to my non-trained eyes are the same. This may be another case of Mr. Kloppenburg being a little overly enthusiastic about breaking out a new species.
Hoya bicolor is a great Hoya for the beginning Hoya collector as it is very easy to grow, and it flowers in a short time from a cutting. There is a lot to be said for Hoyas such as these. If you already own Hoya incrassata, there is absolutely no reason to seek this one out however, as they are virtually identical plants.