I am assuming you are in North America-- is there a chance it got frost damaged? Maybe the other one is more protected?
Jacarandas are pretty drought tolerant once they're established, so I don't think it's water related. It could be that one has better access to nutrients than the other, or maybe one's
roots are getting nibbled by something.
Once you`re past your last frost date, I would give it whatever you normally
feed trees. In my garden, that's rabbit manure tea, it could be comfrey tea, bone meal... they say not to go nuts with too much nitrogen since that can stop them from flowering.