Thread.Sleep alternative in Java

I've been told that using Thread.Sleep() is a bad solution at times that one would want to make some time interval within a loop of actions in a synchronized method.

On the other hand, I have two different threads which are active throughout the running time of my program and also one shared object and when I use Object.wait(long) in that shared object, it causes my GUI to freeze for some time.

what would be a better solution for this problem?

Update This portion of the code is including one of the threads which is starting in GUI:

class temperatureUp extends Thread 
    {
        @Override
        public void run()
        {
        while(true)
        {
            try
            {
                GBC.increaseTemp();
                updateSystemStatus();
            }
            catch(Exception ex)
            {
                StringWriter w = new StringWriter();
                ex.printStackTrace(new PrintWriter(w));
                txtLog.setText(w + "\n" + txtLog.getText());
            }
        }
        }
    };

and this is the synchronized method in shared object, GBC:

public synchronized void increaseTemp() throws InterruptedException{
    // don't increase the temperature if the boiler 
    // is not turned on...
    while (!isBoilerOn) 
        wait(); 

    // increase the current temperature 
    if ((currentTemp + 1) < MAX_TEMP && currentTemp < desiredTemp) {
        Thread.sleep(2000); ///what should put here if not thread sleep?
        currentTemp ++;    
        updateGasBoilerStatus();
    } 
}