Perifosine in Treating Patients With Recurrent Prostate Cancer

Inclusion Criteria: * Patients must have histologically or cytologically confirmed adenocarcinoma of the prostate * Patients must have a rising PSA \>= 2.0 following a nadir after local curative therapy (either radical prostatectomy and/or pelvic radiation) with no clinical or radiographic evidence of metastatic disease; PSA \>= 2.0 elevation must be confirmed by two consecutive increases, each measured at least 2 weeks apart; only patients with a biochemical (PSA) recurrence with no physical exam or radiographic evidence of local or distant relapse are eligible * Prior hormonal therapy in the form of neoadjuvant or adjuvant therapy is allowed as long as neither lasted for more than 9 months; androgen deprivation therapy must have been completed at least one year prior to registration; patients could not have had a rising PSA at the time that neoadjuvant or adjuvant therapy was stopped * Life expectancy of greater than 3 months * Karnofsky performance status \> 60% * Leukocytes \>= 3,000/uL * Absolute neutrophil count \>= 1,500/uL * Platelets \>= 100,00/uL * Total bilirubin =\< 1.5 mg/dL * AST (SGOT)/ALT (SGPT) =\< 2.5 x institutional upper limit of normal * Creatinine within normal institutional limits OR creatinine clearance \>= 60 mL/min * Computed tomography scan or MRI of the pelvis negative for metastatic disease within 3 months prior to registration * Bone scan negative for metastatic disease within 3 months prior to registration * Chest PA and lateral films negative for metastatic disease within 3 months prior to registration * Prior vaccine therapy is allowed if completed at least 6 months prior to registration * Men enrolled in this trial must agree to use adequate contraception prior to study entry and for the duration of study participation * Ability to understand and the willingness to sign a written informed consent document Exclusion Criteria: * Patients who have had any prior cytotoxic chemotherapy * Patients may not be receiving any other investigational agents * Patients receiving concurrent chemotherapeutic agents, biological response modifiers, radiation therapy, corticosteroid or hormonal therapy; no complementary or alternative therapy (e.g., St. John's Wort, PC-SPES, or any other herbal remedies taken for the purpose of treating prostate cancer) may be given during protocol treatment * History of allergic reactions attributed to compounds of similar chemical or biologic composition to perifosine * Androgen deprivation given for reasons other than neoadjuvant or adjuvant therapy * Uncontrolled intercurrent illness including, but not limited to, ongoing or active infection, symptomatic congestive heart failure, unstable angina pectoris, cardiac arrhythmia, or psychiatric illness/social situations that would limit compliance with study requirements * HIV-positive patients receiving combination anti-retroviral therapy are excluded from the study because of possible pharmacokinetic interactions with perifosine; appropriate studies will be undertaken in patients receiving combination anti-retroviral therapy when indicated * No prior malignancy is allowed except for the following: adequately treated basal cell or squamous cell skin cancer, in situ carcinoma of any site, adequately treated stage I or II cancer from which the patient is currently in complete remission, or any other cancer from which the patient has been disease-free for 5 years