In 10 years of working in web development I've never had a part-time colleague. I'm not sure whether I should take that as a sign that our field is simply not conducive to part-time work. In your opinion, is part-time conventional UX/usability work feasible?
I am investigating alternative avenues such as PT faculty member. If anyone has another suggestion I would be greatly appreciative.
But it can be hard to find. Your best bet is probably to pursue contract/freelance projects.
Part-time work is certainly feasible. As John says, it is most common in contract/freelance projects, but we have some part-time people and I'm sure others do too.
The key things to think about are what kinds of things you want to do (flexibility in desired role can be important), the degree of autonomy/control you want in your projects (in part-time work, you will be "part of a team" rather than "running a team"), and how easily your schedule is able to ebb-and-flow (in hours or times of day) to meet varying demands that arise in any project.
As I'm sure you know, these kinds of opportunities often arise in conversations, rather than via advertised positions.
Thank you both very much for your input. I appreciate your views on the subject.