This paper deals with the existence and asymptotic analysis of positive continuous solutions for the following nonlinear polyharmonic boundary value problem: \begin{align*} \begin{cases} (-\Delta)^{m}u= b(x)u^{p}, ext{in} D, & imimits_{|x| \rightarrow 1 } \big(|x|^{2}-1\big)^{1-m} u(x) =0, imimits_{|x| \rightarrow ıfty } (|x|^{2}-1\big)^{1-m} u(x) = 0. \end{cases} \end{align*} Here $m$ is an integer greater than 2, $p \in(-1,1)$, $ D$ is the complementary of the closed unit ball of $\mathbb{R}^{n} $ with $n >2m$, and the function $b$ is nonnegative and continuous on $D$, satisfying some appropriate assumptions related to Karamata regular variation theory.