I get Brazilian bikini waxes done. I used to get it done more regularly, but as I am currently pregnant and not growing as much hair as I used to, I've only gotten it done twice in the past several months. I get it done because it's much more sanitary and hygienic for me. It also adds to the fun factor during sex.

I used to get it done by a professional, but I've trained my guy to wax me. (I have all the professional equipment.) It's not too bad. He's not as quick as a professional esthetician, so the sessions take longer. There's more hair afterward that he has to pluck out by hand. Saves me a bundle of money though.
As for the pain, it's totally bearable. It only hurts the second that the wax is being pulled off your skin. The pain goes away immediately. It's not as painful as, say, a toothache.