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Check on your hat within the first hour to make sure the grime is disappearing. Repeat the spot cleaning procedure if you notice any stains that haven't subsided during the soaking process, then let it continue to soak for the remainder of those 2 hours. If you're in a rush, you can shorten your hat's soaking time to about a half hour. Leaving extra soap in your hat could lead to residue and stiffness, both of which will hurt the hat's quality. Rinse the hat off thoroughly under running water until all of the soap is gone. Extra water will make it harder for your hat to dry evenly and completely. Rub the hat dry with a soft towel, and give extra attention to the wettest areas. Dry off the hat with the towel until any dripping has subsided. You can use a mannequin, container of oatmeal, or any object that is tall and round. The idea is to help your hat keep its shape as it dries so it will easily fit on your head later. Roll a soft towel into a ball and stuff it inside your hat to help it keep its shape. This is especially useful for hats that have gone limp after washing, or if you do not have a container on hand to rest your hat on as it dries. The towel will catch any dripping, since you won't be able to get rid of all drippage by toweling the hat off. It may take a few hours for your hat to dry completely.  Plug in a blow dryer and turn it on your hat on the lowest/coolest possible setting. This will hasten the drying process if you're short on time.  If you don't have a blow dryer on hand, a fan is just as effective. Plug in a pedestal fan and aim the head down at your hat. The air flow will help your hat to dry faster.

Summary:
Soak the hat in the sink for 2 hours. Wash the hat off under a warm faucet. Dab away any excess water with a soft towel. Place your hat on top of a round container. Air dry your hat with a towel placed underneath its container.