According to one embodiment, an apparatus for installing and removing a fastener includes a handle and a shank coupled to the handle. The shank includes an external periphery, an interior channel, and at least one fastener engagement element at least partially positionable within the interior channel. The apparatus further includes a wire positioned within the interior channel and an actuator coupled to the wire. The actuator is actuatable to move the wire within the interior channel and into contact with the at least one fastener engagement element to move the at least one fastener engagement element into a fastener engagement position. In the fastener engagement position, at least a portion of the at least one fastener engagement element is positioned external to the external periphery of the shank.
