Ok, I'll try to explain without 3ds max running so there might be some inaccuracies. ;)
1. Create your hair geometry from hair and fur modifier.
2. Go to create -> Corona -> Corona proxy and create it anywhere in your scene
3. In Corona proxy object you have 2 options:
ave geometry from your scene as corona proxy
and
load existing file as corona proxy
So pick "from scene" (or something similar) and pick your hair geometry. Save it anywhere you want. This should automatically set your newly created file as corona proxy object and align it to your original hair geometry. You can now hide or delete your original hair geometry and use only corona proxy object.
4. In corona proxy object you have few display modes, "point cloud" is pretty good, in it you can define amount of displayed points so that you see your object but it doesn't use up much of your system resources.
5. Render and observe if it's any faster. :)
you also need to assign your original material to corona proxy