Techniques for implementing hardware-assisted memory disaggregation with recovery from network failures/problems are provided. In one set of embodiments, a hardware controller of a computer system can maintain a copy of a “remote memory” of the computer system (i.e., a section of the physical memory address space of the computer system that maps to a portion of the physical system memory of a remote computer system) in a local backup memory. The backup memory may be implemented using a non-volatile memory that is slower, but also less expensive, than conventional dynamic random-access memory (DRAM). Then, if the hardware controller is unable to retrieve data in the remote memory from the remote computer system within a specified time window due to, e.g., a network failure or other problem, the hardware controller can retrieve the data from the backup memory, thereby avoiding a hardware error condition (and potential application/system crash).