In my case, I was able to get the CMOS clock to be in localtime, without a kernel compile, by doing the following:
Make sure /etc/adjtime has 'LOCAL' and not 'UTC' (in my case, it was the last line of the file).
Make sure /etc/hardwareclock has 'localtime' in it (in my case, this was a new file and only had that line in it).
Doing the above seems to have turned off the 'NTP synch' flag in the kernel, which keeps the kernel from writing the UTC time into the CMOS clock upon shutdown. So it is highly likely that the kernel won't save the system time in the CMOS clock (I've not verified this). However, the above 2 changes appear to have turned off '11-minute mode'.
Here's the output of 'timedatectl':
rusty@quigon2 ~ $ timedatectl
Local time: Wed 2019-01-30 14:18:53 MST
Universal time: Wed 2019-01-30 21:18:53 UTC
RTC time: Wed 2019-01-30 14:18:50
Time zone: America/Phoenix (MST, -0700)
Network time on: yes
NTP synchronized: no
RTC in local TZ: yes
Warning: The system is configured to read the RTC time in the local time zone.
(Note the 'NTP synchronized' info above, but also the RTC in local TZ is yes)
After all of this, you may need to fiddle with NTP or rdate or something to make sure your clock is synchronized somehow. I leave that as an exercise for the reader. (On my machines, I'm running 'rdate -na timemachine ; hwclock --systohc' every 30 minutes (as root). You might be able to run NTPD in this environment and not need the rdate, but I'm not sure about the 'hwclock --systohc' - that might be needed... Again, left as an exercise for the reader.)