Just did this to exhaust my small grow box I built because I used a pc fan that was 4.5 inches around and the hole saw bit was like $20+ dollars. I just printed out an outline for a 4.5" circle online and traced in on my box and drilled out a bunch of small holes in the middle of the circle and the just shave the edges down with a small hand wood saw and a little bit of sanding with a power sander which isn't needed I just had it handy. I now upgraded to a ventech 4 inch inline fan/carbon filter combo but the pc fan worked great. Kept my box between 70 - 80 F with passive intakes.Yes if you can get ahold of the right sized hole saw drill bit. If not you may be able to drill a few holes in a cluster with a larger regular bit and just mount the fan flush to the wall over the holes.
Yeh I know what you mean. I was like home depot must be crazy if they think I am about to pay this to drill 1 hole!Awesome handiness. I did the same thing when I had a cabinet. Just couldn't justify buying the hole saw for one hole.