The documentation for setting the timezone on AWS Linux AMI can be found here. However, what if you wanted to do it with a command line?
Try this -
MY_TZ="Australia/Sydney"
MY_TZ_ESC="$(echo ${MY_TZ} | sed 's/\//\\\//')"
<span lang="en-AU">sed -i "s/^\(ZONE\s*=\s*\).*$/\1\"${MY_TZ_ESC}\"/" </span><span lang="en-US">/etc/sysconfig/clock</span>
ln -sf /usr/share/zoneinfo/${MY_TZ} /etc/localtime