Studies of lepton-flavor violation in strangeness-changing (|∆S| = 1) transitions have a long tradition in the kaon sector where they provide some of the strongest limits on physics beyond the standard model. Recent hints of violation of lepton-flavor universality in B-meson decays have revived interest in lepton-flavor violation as the two phenomena appear simultaneously in many extensions of the standard model. At the same time, the LHCb experiment has produced new results for the hyperon process Σ + → pµ + µ − and may be in a position to study other rare hyperon decay modes. With this in mind, we investigate |∆S| = 1 hyperon decays into different-flavor lepton pairs e ± µ ∓ in a model-independent manner and contrast the coverage of parameter space that can be achieved with what is known from kaon modes. We include a comparison with selected two-body leptonic decays of charged mesons, with K → πνν modes, with µ → e conversion, and with lepton-flavor violating decays of other neutral mesons, all of which constrain the same parameter space in a complementary way.