Male Beard Keloid Scar Treatment

Keloid scars on hair bearing areas are difficult to isolate and treat. The mainstay of treatment should always remain conservative with intralesional injections and compression therapy. 

There are many ways to treat keloids. But there is a high recurrence rate. SOmetimes excision with subsequent steroid treatment is helpful, sometimes excision with raditation may help. Usually excision alone has the highest recurrence rate. You should get evaluated before giving a definitive treatment plan.
Steven Wallach, MD

You might be suffering from a condition called pseudofolliculitis barbae, in which the hairs of your beard become in-grown, loop around and cause irritation, inflammation and scarring.
Frequently, the best treatment for this condition is laser hair removal. The keloid scars can be injected with cortisone.
You should consult a dermatologist for a correct diagnosis first.
Good luck.