There are single size hollow end mills, usually special and pricey, I suppose. And without supposing, there are adjustable hollow mills, but they are definitely expensive. (eBay may be a decent source)
Then there are regular wood plug cutters, which can work on aluminum and other metals without modification, and possibly steel if the tooth shape is altered by grinding or by hand with a diamond pocket hone. And, lastly ( for me at the moment) there are countersinks with interchangeable pilots, one of which might suit your purpose with the pilot removed.
Do a Google image search for hollow end mills and you'll get some ideas.