Aims. IRAS 23226-3843 has previously been classified as a changing-look active galactic nucleus (AGN) based on observations taken in the 1990s in comparison to X-ray data (Swift, XMM-Newton, and NuSTAR) and optical spectra taken after a very strong X-ray decline in 2017. In 2019, Swift observations revealed a strong rebrightening in X-ray and UV fluxes. We aimed to study this outburst in greater detail. Methods. We took follow-up Swift, XMM-Newton, and NuSTAR observations of IRAS 23226-3843 together with optical spectra (SALT and SAAO 1.9 m telescope) from 2019 until 2021. Results. IRAS 23226-3843 showed a strong X-ray and optical outburst in 2019. It varied in the X-ray continuum by a factor of 5 and in the optical continuum by a factor of 1.6 within two months. This corresponds to a factor of 3 after correction for the host galaxy contribution. The Balmer and Fe ii emission-line intensities showed comparable variability amplitudes during the outburst in 2019. The Hα emission-line profiles of IRAS 23226-3843 changed from a blue-peaked profile in the years 1997 and 1999 to a broad double-peaked profile in 2017 and 2019. However, there were no major profile variations in the extremely broad double-peaked profiles despite the strong intensity variations in 2019. One year after the outburst, IRAS 23226-3843 changed its optical spectral type and became a Seyfert type 2 object in 2020. Blue outflow components are present in the optical Balmer lines and in the Fe band in the X-rays. A deep broadband XMM-Newton/NuSTAR spectrum was taken during IRAS 23226-3843's maximum state in 2019. This spectrum is qualitatively very similar to a spectrum taken in 2017, but by a factor of 10 higher. The soft X-ray band appears featureless. The soft excess is well modeled with a Comptonization model. A broadband fit with a power-law continuum, Comptonized soft excess, and Galactic absorption gives a good fit to the combined EPIC-pn and NuSTAR spectrum. In addition, we see a complex and broadened Fe K emission-line profile in the X-rays. The changing-look character in IRAS 23226-3843 is most probably caused by changes in the accretion rate -based on the short-term variations on timescales of weeks to months.