Is it woven or jersey? If you can have a visible seam, you can get by with a walking foot, fold over, basing or pinning. What ever you do it will be a bit of work. The overlocker is easy, but it can misbehave, which means spray on stabiliser, wash out fusiable lining or something like that. How stretchy is it? I remember a lot of fraying and slippery fabric the few times I have had my hands on this type of material.
I didn't have an overlocker, but I pressed the seam, and for terrible fraying even a siple zigzag or straight steam can make it hold the threads in place enough to get the seam done.
A way to stabilise the hem, can be to use a strip of fabric in the back sew it to the hem line, and fold it over, but it depens if the stiffening effect is an advantage.
Among all the possibilities I think the nices result would be hand stitching, the type of stitch were you get a sort of zigzag in the back, and hardly any thread showing at all in the front (catch stitch?).