The anomaly detection literature is abundant with offline methods, which require repeated access to data in memory, and impose impractical assumptions when applied to a streaming context. Existing online anomaly detection methods also generally fail to address these constraints, resorting to periodic retraining to adapt to the online context. We propose ONLINE-IFOREST, a novel method explicitly designed for streaming conditions that seamlessly tracks the data generating process as it evolves over time. Experimental validation on real-world datasets demonstrated that ONLINE-IFOREST is on par with online alternatives and closely rivals state-of-the-art offline anomaly detection techniques that undergo periodic retraining. Notably, ONLINE-IFOREST consistently outperforms all competitors in terms of efficiency, making it a promising solution in applications where fast identification of anomalies is of primary importance such as cybersecurity, fraud and fault detection.