Yep, holesaw, and 1/4 isn't all that thick. First drill a pilot hole like 3/16. then run the 1/4 inch holesaw pilot drill into that hole and start cutting. I use water and soap for lube, but many use cutting oil. I just don't like oil on parts I am going to paint later. By starting with a smaller hole than the 1/4 inch one you get a truer cut as it won't wobble when the hole saw starts to cut. Home Depot and Lowes even carry good ones like Rigid.

BTW, CLAMP DOWN THE PIECE YOU ARE CUTTING. I recently wrapped my arm around the drill press when the holesaw grabbed the piece and spun it and me around the arbor. They give you NO WARNING.

Don