The ultimate of meditation is to stay in here-now, be present in a present. So technically and logically speaking, you don't need a memory in such state.
So, are such states hallucination? Every person (human being) knows for sure that they are real.
I believe meditation is pulling focus into the present moment, but I also believe that moment is far from discrete.
Ultimately, the idea is that the state of 'here-now' (whether arrived through practice, observation or heck even induced through means of substance - though there are differences) is the state when You are not your mind anymore. So in that sense, looking at above suggestion about memory, I would simply ask: what is the need of a memory?