Here is a description of how to change your time zone in SharePoint. Simple fix!
1) Go to Site Settings
2) Under Site Administration --> click Regional Settings
3) You will see a drop down for Time zone --> select the appropriate time zone and click OK
Although you change it on sharepoint, K2 is still picking up est time.
We have solution deployed in India so that would be gmt time. I changed regional settings to point to india but K2 still points to est where we developed and deployed the solutions.