For an easy win, first unlock the Skull Woods Save point, Miner's House Crack, and the Lorule Crack that is near the starting point point of the race. Once the race begins, wall merge and go to Lorule at the crack nearby, then summon the broom and warp to the Skull woods, making your selection quick since time will continue ticking down. Walk down South east out of the wood and proceed to the ruined miner's building in Lorule and slip in between the bars to gain entry and re-emerge in the Miner's House. Exit fast and head north to the finish line. You should reach the end in less than a minute-- even faster with the Pegasus Boots.