Water-saving irrigation technology is an effective way for agriculture to adapt to the arid climate. Shortening farmers' waiting times to adopt such technology is important for saving water resources and stabilizing agricultural production. This study analyzed the impact of capital endowment on Xinjiang cotton farmers' adoption willingness, adoption decisions, and waiting time. Results showed that capital endowments significantly affect cotton farmers' adoption of water-saving technologies (WST) in all dimensions. Specifically, the scale of cotton planting had a significant positive impact on the willingness and decision of cotton farmers to adopt WST, and it could significantly reduce the adoption wait time. Simultaneously, neighbors' adoption decisions, policy subsidies, and membership of a cooperative could reduce cotton farmers' wait times. Land transfer was one of the livelihood strategies cotton farmers used to adjust household resource allocations or to adapt to arid climate. Land rental also could help reduce the wait time for WST. These results and impacts provided policy optimization direction to reduce the waiting time of farmers to adopt water-saving technology, which was helpful to save agricultural water and for farmers adapt to drought climate change quickly. At the end of the study, combined with the situation of China, from the crop planting structure, land system reform, and effective community governance, we discussed several research directions to improve farmers' drought climate adaptability.