One of the reasons that women are able to wax their legs is that the hair growth is often much more sparse, resulting in less of a problem with terribly reddened skin (though it is still painful). The hairs on a man's face are dense, and often thicker than leg hairs, which would result in tremendous pain, and unavoidable short term blotchy redness. It is for this reason that the majority of wax aficionados do not wax their underarms.

There are, by the way, depilatories meant for facial hair removal for men. They can be found in the "ethnic" hair care section of most drugstores in larger cities, as it is a problem for African American men sometimes to shave. Curly hair tends to bend back toward the follicle and cause ingrown hairs.