Im thinking a couple hours maybe using hand tools? My air compressor is in storage.

 

2 hours or less - not too difficult at all unlike the front! You'll need to lower the sub-frame just enough to get the bar out and replacement in but not bad at all. Here are some instructions we wrote about the project:
Rear Sway Bar Removal & Install

Mark/Pelican Parts

 

+1 on the two hours or less, even with hand tools.
Not really very hard at all.

 

Alone with hand tools, I'd say that less than 2 hours is about right. The longest part is when you have to pry and get the swaybar to go from one side to the other as you only have two hands (unless you have some kind of natural advantage :p). Remember to remove the bracket holding the brake lines or the subframe will stectch them way too much for comfort.

 

Okie dokie.... Im going to do it later today maybe.

 

With AIR and a buddy Iv'e installed lowering springs (on all 4 corners) and a rear bar in just over an hour.