If you are serious about building your own clubs or just doing maintenance on your current clubs, a golf shaft extractor is a must.  There's no way to pull graphite shafts from club heads without causing potential damage to the shaft.  What an extractor does is gently apply pressure to the top of the hosel.  After heating up the area with a propane or butane torch, the pressure applied by the extractor will evenly break the epoxy bond between the inside of the club head hosel and the graphite (or steel) shaft. 

NEVER TRY TO TWIST THE HEAD OFF A GRAPHITE SHAFT.  The graphite shaft will rotate and you will damage the tip.  By using a golf shaft extractor you basically push the head right off of the shaft, leaving a clean shaft tip which can be cleaned and reused. 

I recommend not spending hundreds of dollars on a shaft puller.  There are a lot of economical models available that fit right into your bench vise and will pull graphite shafts quickly and cleanly every time.  Take a look at a few of the models below that we tested.  Using one of these will save you time, money and your clubs from potential damage.  Happy club building.