There is no specific setting for pickup only option in the product. You might be able to work around it with "Requires Shipping - set to ON to allow shipping for product" option.
If this does not work, this can be done with customization.
This might be a good feature to have for other users, if you are willing to contribute, we can have it done for you and other future versions.
You can contribute with development and pull request to 1.2.17 branch, extension for the marketplace or monetary compensation for our team to do this.
PM if interested in more details.
If you are willing to code by yourself, we can give you some suggestions.