Mark nailed it, but I'll just elaborate on my own experience. Before I got a watch, I just waited until I felt fully recovered. After I got a watch that measured surface interval, I found that I was feeling fully recovered after about 45 seconds.That isn't long enough.
but
Another thing I like about the information that a watch provides- if my dive times start dropping, then its lets me know that I may need to pay more attention to relaxing during the surface interval, or maybe pay more attention to my breath-up routine. Ot it may be that I'm just getting tired.
And if I am about to attempt a more challenging dive, perhaps to cut a fish out of the kelp at a depth that is a challenge for me, then I'll use the watch to make sure I have a longer surface interval, maybe three times my dive times.