SAN FRANCISCO -- A businessman from Hawaii who was reported missing in Palo Alto Thursday has been located in San Francisco, where he spent the last two days in jail for allegedly selling drugs.

Michael Karl Irwin, 40, was reported missing after he failed to show up to a dinner appointment with a friend Tuesday night and missed two days of work.

Irwin was arrested at about 5:40 p.m. Tuesday when a San Francisco police officer witnessed a transaction between him and another man in the parking lot of the Safeway store at 2020 Market St., according to San Francisco Assistant District Attorney Brian Buckelew.

Irwin was charged with one count of possession for sale of methamphetamine and one count of possession of ecstasy. He will be arraigned at 9 a.m. Friday at the Hall of Justice in San Francisco.

Irwin lives in Honolulu, Hawaii, but came to Palo Alto to on Sunday for a weeklong contracting stint at a high-tech firm, Palo Alto police spokesman Agent Dan Ryan said.

He was released from jail in San Francisco around 4 p.m. Thursday after posting $50,000 bail, Buckelew said.