It's easy. Take the strings off the guitar first.
Unscrew the strap button and use a 1/2" wrench to take the nut off so you can remove the endpin jack. You will need to reach inside the guitar and disconnect all the wires (pickup, battery, volume control) from their wire clips (those are little foam backed clips that keep the wires from vibrating against the top/back/sides). You can just pull the pickup itself out from under the saddle through the sound hole. The volume control is held on with double sided tape, gently rock it back and forth and it will come loose. The battery pack is held on with Velcro so that's easy. Obviously, the whole thing is wired together so it comes out together.
Once the pickup is removed, you will have two things to deal with. The big thing is that you will almost definitely need to shim your saddle (or have a new saddle made) as the saddle will be too low now (assuming your action was correct with the Element in there). Also, you have a large hole in the endblock now (where the endpin was), Stewmac offers endpins that work in guitars with removed pickups, like this:
http://www.stewmac.com/Hardware_and_...ak_Endpin.html
Removing all of this stuff is literally a 4 minute job, if that.
Jimmy