I brought up having a Gerber brush thinner machete in another thread. I also have a Gerber pak axe. These all have the hollow plastic handles. (I put off getting one for years because I thought the handle felt thin and breakable. Believe me, they're tough.)

Anyway, I've always thought you could store a good PSK inside the hollow handle. I've even convinced myself I recall seeing a plastic plug that was being sold to fit these handles. It was a hard rubber or soft plastic molded to fit the inside first inch or so with two projections that "snapped" into the lanyard hole for retention. If anyone knows what I'm refering to, or have a good idea how to do it, please let me know.

Here's a link to the brush thinner machete if you're not familiar with the handle. The axes are similar, maybe the same.
http://www.knivesplus.com/gerber-knife-gb-42773.html
Also, the sheaths don't seem to come with the machetes on most of the sites I quickly looked at. If you buy one, make sure to compare prices with or without sheath.