...
Container (software) based virtualization where the host kernel is shared - OpenVZ, Virtuozzo (based on OpenVZ), Solaris Zones. At least with Virpus who uses OpenVZ they say Java does not work well.
...
Here is a good article that explains the challenges and offers a possible solution.
Considering
BuyVM
$12.95/month for container OpenVZ with Mem = 1024/2048, BW = 3000GB, Space = 60GB
$20.00/month for Hypervisor KVM with 1024MB, 3000GB and 60GB, 2 Core
...