Preheat the air fryer to 400°F while you prepare the compound butter.
In a small bowl, mix softened butter with rosemary, thyme, garlic powder, and 1/4 teaspoon salt until fully combined.
Pat filet mignon dry with paper towels, then rub olive oil on all sides.
Season both sides generously with kosher salt and black pepper.
Place steaks in the air fryer basket with space between them for proper air circulation.
Cook at 400°F for 10–12 minutes, flipping at the 6-minute mark using tongs.
Insert a meat thermometer into the thickest part and remove steaks when internal temp reaches 130°F for medium-rare.
Transfer steaks to a plate and rest for 5 minutes to allow juices to redistribute.
Top each steak with a dollop of the herb compound butter and serve immediately.