Majesty Palms like to be able to retain their moisture but do not want to sit in water. If the fronds start turning brown, it needs more water and if they turn yellow, it needs less water. Majesty like full sun. Majesty like to have humidity around them so having them by a humidifier is good; you can also spray the fronds every now and again to increase the humidity around the plant.
* Information taken from Gardenologist *