Holy according to Dictionary.com
ho·ly [hoh-lee] Show IPA adjective, ho·li·er, ho·li·est, noun, plural ho·lies.
1. specially recognized as or declared sacred by religious use or authority; consecrated: holy ground.
2. dedicated or devoted to the service of God, the church, or religion: a holy man.
3. saintly; godly; pious; devout: a holy life.
4. having a spiritually pure quality: a holy love.
5. entitled to worship or veneration as or as if sacred: a holy relic.
In my Lutheran confirmation class, we learned that holy means set apart for God.