Best way to update compass pin for a moving object?

[trollusk]

I'm making an addon that adds some pins to the compass, using CustomCompassPins. Some of the pins are for static things like banks, others are for things that move around:
- group members
- more prominent cardinal compass directions (these have to move when the player moves)

Currently I have an Update that runs every 500ms by default, and recreates these pins. It would be nice to be able to update them more smoothly, but I don't want to hog the CPU and cause performance problems.

Is there a more performance-friendly way to update the pins?