I just discovered that David returns in the sequel,
Lost Boys: The Tribe (2008)
Though he isn't played by Kiefer Sutherland, sadly.
Corey Feldman and Corey Haim return in it though,
so it may be worth checking out.
David also makes an appearance in the comic,
which bridges the gap between the first and second films.
There's a third Lost Boys film as well,
which was released on DVD last year.