The 19-year-old Brentford B midfielder played the final 12 minutes as Jón Dagur Þorsteinsson equalised late on for Iceland.
It had been a dream start for Iceland as Óttar Magnús Karlsson netted after just four minutes. However, Sweden responded well after the break; turning the game on its head with goals from Viktor Gyökeres and Simon Thern only for Þorsteinsson to pop up with the equaliser in the dying seconds.
Kolbeinn's maiden full cap comes off the back of two caps at Under-21 level and 32 caps at Under-16, Under-17, and Under-19 level, where he has scored five goals.
Iceland finish their training camp in Qatar with a game against Estonia on Tuesday, kick-off 4.45pm UK time.