So you pick up all Elemental rods as fast as possible Timing starts when gaining control of link, Timing ends the frame the arrow of the text box appears for the final rod

Because the old man is Santa, you should give him a present. In the run, you would have to get a gem (amber from talus would be fastest) and drop it in front of the old man.. Timing starts when gaining control of link, Timing ends when dropping a gem in front of the old man