Shaving or trimming pubic hair is a common practice, but it usually doesn't involve anyone else in the process. Try to trust each other with it, and this process will bring you closer and strengthen the bond. And it will also help you have a fun evening.
Move slowly and be careful. If you do not want to risk or the partner is strongly opposed to deep depilation (of labia, testicles, anus), do only the pubic hair.
You can remove all hair, or you can have fun with it and style it: you can shape it into an image of something, a figure, or the first letter of your name.
The rest of the hair can be dyed into a bright color. This will give you some extra sensations. Especially in a normal situation, when only the two of you will know what’s under those panties.
Don’t take the process too seriously, enjoy yourself and have fun.