Retrieval augmented models show promise in enhancing traditional language models by improving their contextual understanding, integrating private data, and reducing hallucination. However, the processing time required for retrieval augmented large language models poses a challenge when applying them to tasks that require real-time responses, such as composition assistance. To overcome this limitation, we propose the Hybrid Retrieval-Augmented Generation (HybridRAG) framework that leverages a hybrid setting that combines both client and cloud models. HybridRAG incorporates retrieval-augmented memory generated asynchronously by a Large Language Model (LLM) in the cloud. By integrating this retrieval augmented memory, the client model acquires the capability to generate highly effective responses, benefiting from the LLM's capabilities. Furthermore, through asynchronous memory integration, the client model is capable of delivering real-time responses to user requests without the need to wait for memory synchronization from the cloud. Our experiments on Wikitext and Pile subsets show that HybridRAG achieves lower latency than a cloud-based retrieval-augmented LLM, while outperforming client-only models in utility.