I know it's a pain since most of play primarily (it seems) on Stars, but Blib may be onto something when he suggested making it at a different site. I just check Full Contact Poker (pokerroom skin) and I have the ability to create private tourneys with a $5+0.50 buyin.
Unfortunately, there doesn't appear to be anyway (that I've seen) to transfer money to another player @ FCP so it's not like I (or anyone else) can trade Stars money for FCP money.
Man...this would all be soooo simple if Stars' minimum was $5.