How to use postgreSQL in Laravel Homestead
You have an extra 0 at the end of your port. Change DB_PORT=54320
to DB_PORT=5432
try to access your homestead with ssh.
i think u already change the password from the inside
from laravel documentation i think that config should work
or try this command after u change the config
php artisan config:cache
and php artisan cache:clear
https://laravel.com/docs/5.6/homestead#connecting-to-databases