It depends on what we mean by "fully healed". It also varies from person to person. My physician's assistant under the surgeon told me that vaginoplasty is one of the most varied surgeries in terms of rate of recovery.
In my experience, a lot of healing happened in the first 3 months, and then by 6 months I was cleared for penetrative sex.
12 months is often presented as a time when the aesthetics are not likely to change much and you're "fully" healed - but this can vary significantly.
Even at 9 months I feel almost fully healed, though I still have some sensitivity on my labia (like it's a little bruised), and I have some skin still healing from where a skin graft didn't take and I had complications - but even that hasn't stopped me from rough penetrative sex, and I don't even have skin or other tissue sloughing off onto my dilator when I dilate, or visible when I douche - I just notice that some of the skin is very white where it's still healing.