Diego Botín & Iago López Marra triumphed in the 49er and Tara Pacheco & Florian Trittel claimed the honours in the Nacra 17; in the 49erFX, Támara Echegoyen & Paula Barceló took the third step of the podium.
In the 49er fleet, silver went to Jonas Warrer & Jakob Precht Jensen (DEN) and bronze was won by Robert Dickson & Sean Waddilove (IRL).
The Irish duo also qualified themselves and their country for Tokyo 2020 by fending off several other nations to take the European place available at this regatta.
Defending Olympic champions Martine Grael & Kahena Kunze (BRA) won gold in the 49erFX, followed by Annemieke Bekkering & Annette Duetz (NED) and the Spanish duo Echegoyen & Barceló
Taking the Tokyo 2020 European qualification spot in this class were Isaura Maenhaut & Anouk Geurts of Belgium, finishing sixth overall.
And following Pacheco & Trittel in the Nacra 17 were Paul Kohlhoff & Alica Stuhlemmer (GER) and Quentin Delapierre & Manon Audinet (FRA).
A fifth-placed finish was enough for Sinem Kurtbay & Janne Jarvinen to qualify Finland for Tokyo 2020 via the European spot in this class, while Tunisia also qualified for the Games by taking the final place for African nations.
Lanzarote has had very tough conditions during the last day of racing. Winds of 14-16 knots with an easterly, southerly, easterly component, combined with plenty of short but very big waves, made capsizing more likely.
Mathematically, Botin & Marra had already wrapped up gold ahead of the final day. Their coach, Pepe Lis, commented: "[We have had] very good conditions these last two days, perfect wind and waves. [Botin & Marra were] taking advantage of their strong points and coming back when the start wasn't good."
Just one point separated Echegoyen & Barceló and Ida Baad Nielsen & Marie Thusgaard, as the Spaniards pipped the Danish to bronze.
Maenhaut & Geurts, relative newcomers to an experienced fleet, couldn't contain their joy at taking the spot for Tokyo 2020: "We are very excited and very happy, we have only just started sailing and this regatta has been the best we have done by far."
In the Nacra 17, Pacheco & Trittel collided with Swedish duo Ida Svensson & Marcus Dackhammar in the final fleet race, but it made little difference to their overall lead, with the Medal Race cancelled due to the weather conditions.
"We have left the regatta almost without starting, but we have had many races with different conditions throughout the week and we are very happy with the results," Pacheco said, adding, "we have been getting stronger here in Lanzarote."
A newly-qualified Kurtbay said: "We have worked very hard for the last four years already, so we are very happy after securing the Olympic place before the Medal Race."
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World Sailing Newsletter
World Sailing Newsletter is the weekly online newsletter of World Sailing.
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It features the latest news and events from the sailing world together with features and info in an easy-to-use format.