fwiw my sis let her kid start shaving around 10-11 because she also was getting teased. Also fwiw being hispanic is not really the issue-it is how fuzzy you are. My niece is very pale, but very fuzzy (like my whole family, unfortunately).
So, I say just go with what will work. Shaving is not that big a deal in the long run. You have to look at all the issues involved. Are many of her friends shaving? Will she still wear shorts? Is she the smallest kid? Is she a follower or leader? My dd was a tad bit of a follower, so I instilled in her from early on to ignore teasing and do what is right--like waiting to shave and not do it because mary, betty or sue said it was time. For her it was the right thing to do. Now she is her own person and does what is right for her and not what someone tells her she should be doing.
You just have to look at the person she is and what seems right for her.
Good luck,
ts