Liposuccion? These areas tend to have more muscle than fat, including in women, right?
Anyway, if you do have a lot of fat there, I guess a liposuccion can be done, but... Then, won't you get a lot of loose, empty skin?
I'd think that your best chance, if you've not been on HRT for over a year yet, would be to avoid arm exercise and hope HRT gives you a good reduction.