There are trade-offs for each power converter design which are mainly dictated by the switching component and passive component ratings. Recent power electronic devices such as Gallium Nitride (GaN) transistors can improve the application range of power converter topologies with lower conduction and switching losses. These new capabilities brought by the GaN High Electron Mobility Transistors (HEMTs) inevitably changes the feasible operation ranges of power converters. This paper investigates the feasibility of Buck and Boost based bi-directional DC/DC converter which utilizes Quasi-Square-Wave (QSW) Zero Voltage Switching (ZVS) on GaN HEMTs. The proposed converter applies a high-switching frequency at high output power to maximize the power density at the cost of high current ripple with high frequency of operation which requires a design strategy for the passive components. An inductor design methodology is performed to operate at 28 APP with a switching frequency of 450 kHz. In order to minimize the high ripple current stress on the output capacitors an interleaving is performed. Finally, the proposed bi-directional converter is operated at 5.4 kW with 5.24 kW/L or 85.9 W/in3 volumetric power density with air-forced cooling. The converter performance is verified for buck and boost modes and full load efficiencies are recorded as 97.7% and 98.7%, respectively.