Just hang it up. I suppose you could blast it with a hair dryer or something, but what's the point? It's going to collect bacteria whether dry or not. Don't worry about it. Just make sure you sanitize it before you need it.
Not sure what "hank it up" means (maybe hang?) but I twirl mine around for a minute or two then just hang and air dry. Don't worry about the water spots. Just sanitize before use.
i hang it over one of the blades of my ceiling fan, plenty of height so that it wont touch the ground...(no, i don't turn the fan on in order to create enough force that will drive water out the ends)
I whip both ends around over my head lasso style for a few turns, then hang it up in a U shape, open ends up on the shelf in the closet. I wedge the ends of the U into the boards on the shelf to keep them upright. This way, the evaporation can escape and the tube is usually dry in a couple of days.
I have a pump for an air matress that has a fitting that is the perferct size for 3/8 inch hose. I blow all of the excess moisture out of it before I hang it up.