Before I started, I called around and found a shop that has a press and many adapters, so they can press out wheel hub from wheel carrier, then press out the bearing, then press in new bearing and finally press in old wheel hub.
Shop I found did it for me, charged me 20 bucks, 20 minutes.

Below shows you what you need to remove to get to the wheel carrier, so you can take it to shop and have bearing replaced. Hope this helps out.
You would want to do this if you notice noises in car while driving, such as rythmic tapping (without any vibration), or general much louder noise while driving. These are typical symptoms of bearing going bad (***** being shaved a little, creating noises while driving).
In my case, I heard general increased road noise, and tapping that increased as speed was increased. While driving in tight circles on road, noticed the tapping became much more pronounced while turning left. While turning right, the tapping would almost disappear.
Therefore, since turning left puts more load/weight onto right side axle, I deduced the right or passenger side needs bearing replacement. Axle was not compromised, in great shape, so I did not replace it. Some replace both axle and bearing.

Since my axle was stuck to the carrier, i had to use propane torch from walmart, to heat inner perimeter of hub, then used 8-10lbs sledge to bang onto axle, to separate from wheel carrier. I used old spindle nut as shield for axle, so I can reuse the axle, with new purchased spindle nut.

Replacing entire wheel carrier will cost you about 1000 bucks. Buying bearing for 100, paying about 20 for a shop to replace bearing itself, and doing work on your own will save you about 2000 bucks on this job.
Good luck and chime in with comments if needed.

 

Really great writeup as usual ciaka!

 

I know this thread is kinda old, but just wanted to provide some tips for people who can't get the rear axle out of the hub after using a torch, axle puller, hub puller, hours of banging with a hammer and enough curse words to fill up the swear jar to buy a new Porsche.
JUST BUY A WHOLE AXLE + HUB ASSEMBLYI got a set pulled from a wrecked front end collision 2010 Panamera S with only 50k miles for $180 on eBay, which is only slightly more expensive than a new bearing, not to mention this way you don't need to mess with a hydraulic press. You can unbolt the whole hub and remove it along with the original axle in little under an hour just in your own drive way, swap the replacement in with the good bearing, and you'll be good to go. Granted the "new" bearing has some miles on them so it might fail again in another 50k miles or so, but that's for future me to worry about. Worse case I get another eBay assembly and one more hour under the car.

I started noticing the droning noise at around 101k miles and it's been driving me crazy. Like previous people have mentioned, the noise goes away during fast right turns, which unloads the rear right wheel with the bad bearing. After this replacement my highway cruises are quiet again. Ahhhhh serenity.

 

Nice "trick", thanks. I would not have thought to look for the entire (used) assembly for the same price as the (new) bearing, I would have just assumed parts breakers would be asking a lot more, just because.

I wound up using axle removal as an excuse to buy a bigger puller, lol. That plus heat eventually did the job.

If you've never stumbled across "Posi Lock" brand pullers, they are amazing - incredibly high quality, can't say enough good stuff about them. They are available as big or small as you want. Not cheap, but quality tools rarely are.

 

Oh yeah I actually broke the threads on my puller while doing this. Gonna need a replacement haha. Thanks for the rec.

 

Torque specs:Lower trailing arm to wheel bearing housing: Tightening torque 130 Nm (96 ftlb.)
Upper trailing arm to wheel bearing housing: Tightening torque 85 Nm (63 ftlb.)
Tie rod to wheel bearing housing: Tightening torque 85 Nm (63 ftlb.)
Spring strut to lower trailing arm: Tightening torque 90 Nm (67 ftlb.) +120°
Drive shaft to differential: Tightening torque 22 Nm (16 ftlb.) +90°
Air guide to lower trailing arm: Tightening torque 10 Nm (7.5 ftlb.)
Brake disc to wheel hub: Tightening torque 10 Nm (7.5 ftlb.)
Brake calliper to wheel bearing housing: Tightening torque 140 Nm (104 ftlb.)
Cable holder to wheel bearing housing: Tightening torque 10 Nm (7.5 ftlb.)

 

Amzing work from Dr.Ciaka and other member in this forum ... I bookmark this page for future. Get to DIY with the knowledge from the member. This bearing work will be very expensive $3K+ at Porsche dealer. Good Job !!!