Dealing with hair in that area is much like hair around the vagina. You will get best results from waxing because it completely removes the hair all the way down to the root. So, you have longer hair-free time because hair has to grow an entirely new folicle. Yes, it is slightly painful, but definately better results.

Otherwise you have to shave regularly to avoid stubble. Or, if you can afford it, get permanent laser hair removal.