With the repo you can install PIP :
Installing Python Pip on Intel Edison | Michael Hirsch
opkg install python-pip
and then you can install pybluez :
pip install pybluez
Note that I had some issues with pip, beeing broken with this error message :
ImportError:No module named pkg_resources
if it is the case I found this :
http://stackoverflow.com/questions/7446187/no-module-named-pkg-resources
and this command line works like a charm :
curl https://bootstrap.pypa.io/ez_setup.py | python