Water could have penetrated the switch, but I don't think it should've just from washing the light.
An intermittent case is the most difficult to diagnose... one has to wait for it to act up before the troubleshooting process can be started. When it acts up again, remove the tailcap and bridge the end of the battery (with it installed) to the end edge of the flashlight's body with a small wire or paperclip. This will bypass the switch. If it works fine this way, either the switch is bad, or the tailcap-to-body connection isn't making good contact.
You purchased yours direct from Dereelight, correct? It should have came with a spare switch. If so, try the spare and see if it solves the problem.
Let me know what your results.