It means that someone is temporarily living away from home, but the place they're staying in feels like home. It's home and (it's) away (from home).
Home and Away"While the entire population of Lithuania occupy our apartment, ripping out our bathroom and replacing it with a smaller one, and taking our bookcases away, we are staying in a "suite" which has exactly as many rooms as our home. It's handier for work, too."Does that help?