I stumbled upon a chin hair "treatment" by accident:

I began taking Iodroal tablets, for other issues, and worked up to 4 tablets per day. One of the first things I noticed was that my chin hair diminished a great deal. Before the Iodoral, I had five or six thick, black, manly, macho hairs and probably another 50 soft blonde long ones on my chin. I had to pluck every day to stay on top of them.

After two weeks on the Iodoral, no more black macho hairs and down to maybe ten soft blonde ones. I ran out, re-ordered, and went two weeks without the Iodaral, chin hairs started increasing - I started back up again this week, seem to be decreasing again. At $40 per 180 pill bottle, it's about $1 per day. According to their website, you should reach sufficiency in about three months, then cut back to 1 pill/day. It's a lot cheaper than electrolysis, and not painfull.

The Iodoral is an Iodine/Iodide pill, and the body requires Iodine/Iodide to regulate your hormones. Lugols solution would be another source.