Humboldt said: You're fine.
Looks like the oldest leaf there, the rest look great!
Leaves pass. Cut it at the base of the stem and you're good to go:).
Never had one but that's what I'd do.
For as good as it looks that soil appears dry, but you're doing something right.
Gina1960 said: Yes that looks like an old leaf not a new one. Just be aware....this alocasia is a member of the sanderiana family of alocasias. Alocasia sanderiana has a light-linked inclination to do dormant when the days really start to shorten. Like we are about to experience here in the US with the advent of fall and winter.
Do not be surprised if this plant starts to look like it is declining and dying when the days really start to get shorter. You may be able to keep it up with excellent grow lights, but if you are not interested in that, let it go dormant. Just put the container in a warm dark place and don't water it. Start watering again next spring, it should re-emerge