This may seem like blasphemy to some but *gasp* an axe does not need to be razor sharp, not even a smoothing axe. It may help a little bit, but it is not nearly as important as with a plane or chisel. And I really don't notice a whole lot of difference between the performance of my axe when smooth and when it gets a nick in it. So what if it leaves a tiny line on the timber? Unless the nick is a big dent, I usually don't worry about it and let it gradual disappear on its own over successive sharpenings or the occasional retouching of the bit to reestablish the proper bevel.

My general procedure is to sharpen all of my tools before I put them away, and touch them up when I get them out to use them as well as once or twice while using them for a long period.

A barber in Thailand once used a straight razor on my neck when cutting my hair, it was a wild experience. That guy was amazing though, you'd go sit down, and he was done.