Alpha Octantis isn't the brightest star in this faint constellation. In the same field is nu Octantis, which holds that honour. Even so, nu is only a 3.7 magnitude star, while alpha is but 5.1.

To find alpha (and nu) first find the brightest star in this region, beta Hydri, which is just south of the Small Magellanic Cloud in Tucana.

From beta Hydri move slightly south to capture beta Octantis in the same field: binoculars. Then move up from beta Octantis: binoculars.