Cold Water Thawing. 1  Thaw breast side down, in an unopened wrapper, with enough cold water to cover your turkey completely. 2  Change water every 30 minutes to keep the turkey chilled.3  Estimate a minimum thawing time of 30 minutes per lb.old Water Thawing. 1  Thaw breast side down, in an unopened wrapper, with enough cold water to cover your turkey completely. 2  Change water every 30 minutes to keep the turkey chilled.