Charles Willis Holman was born December 27, 1898, in Bloomington Township, Hennepin County, Minnesota, the son of Willis Judson and Jane Elizabeth (Rowlands) Holman. A high school dropout, Holman early gained a reputation as a daredevil motorcycle rider. By 1917 this reputation expanded to barnstorming aerial antics, including parachute jumping. By 1922, as part of the flying exhibitions given by the Larrabee Brothers, Holman's prowess with speed and aircraft maneuvers thrilled air show goers throughout the Midwest, earning him the appellation "Speed." In 1923, he took first place in the stunt flying competition at St. Louis' National Pulitzer Races. The next year, he took second place in the Minot, North Dakota to Dayton, Ohio, air race. In 1926 he was employed by Northwest Airways to pilot its planes carrying air mail between the Twin Cities and Chicago; he rose to operations manager of the company. In 1927, he won the New York to Spokane Air Derby in his plane, National Eagle.

When another stunt flyer broke his world record of 1,093 consecutive aerial loops, Holman flew over St. Paul while a Northwest clerk tallied 1,433 loops, a record that would stand for 22 years. In August 1930 he took first place in the Chicago National Air Race. As part of Red Jackson's Flying Circus, he performed over the Minnesota State Fairgrounds. On May 17, 1931, as Holman was participating in an air show at Omaha, Nebraska, his plane crashed, resulting in his death.

On July 31, 1925, Holman married Elvera (Dee) Swanson at Bay View, Emmet County, Michigan. He was the first inductee into the Minnesota Aviation Hall of Fame, and St. Paul's downtown airport is named in his honor.