We apply time-resolved photoluminescence with 1.5 mum spatial resolution for characterization ofcarrier trap distribution in semi-insulating Ga0.51In0.49P:Fe layers regrown around GaAs/AlGaAs circular vertical cavity surface emitting laser mesas using hydride vapour phase epitaxy. The carrier trapping times are in the range from 10 to 15 ps and quite uniformly distributed throughout the burying GaInP:Fe layer, suggesting that the layer is semi-insulating everywhere. Simulations show that, in addition to the Fe dopants, the layer contains other, unintended carrier traps. The photoluminescence spectra reveal that the regrown GaInP:Fe material has several distinct regions with different band gaps. This is attributed to differences in the In/Ga composition and/or CuPt ordering of the GaInP.