I don't have much body hair so it's not very noticeable.
I do shave my legs sometimes if I feel like it. It doesn't grow back thicker, it's just not as soft but it'll get softer as it grows longer. What I do most of the time is epilate the hairs on my legs. It will last longer that way.

I've not done waxing as my body hair is very fine, probably break instead of getting it pulled out. If money is not a concern, go for those permanent hair removal. Lots of these promotions around on Groupon and similar sites these days. I've bought my underarm e-Light treatment on Groupon and it has been awesome for me. I used to have really annoying underarm hair and grows out very fast even when I pluck or wax. Now I don't have to bother it for 2 weeks and it's still hairless.

You can find it at any Jusco, parkson and even Watsons and guardian sometimes.
Yes it's painful because it pulls out the hair. How long it last will depend on your body. Some will last weeks, while some last few days only. Even waxing, if I wax, it'll last max around 1 week only, most ppl say will last at least 2 weeks.

There are many waxing saloons around. The most popular one is Strip. Where's your location?

Google up sugar wax if you plan to DIY at home. I've found it very convenient to make and use sugar wax. Don't need any special applicator or tools. It should be very easy to use sugar wax for arms and legs. Go see YouTube videos on how to do it.

LYN's stuff for ladies got quite a number of sellers selling DIY home wax.

Epilator cost varies from a range of RM50-RM600+. There are many brands. Panasonic is more of an average priced and durable one (My first epilator cost RM79 and is still working well after 5 years); Braun is quite expensive but very good (I have an awesome one that cost me RM600, it comes with power rechargeable battery and many different heads including a shaver, waterproof too). The price varies depending on what features you want. I've seen lots of cheaper epilators selling online for around RM50-80.