Real-time text-driven joint audio-video avatar generation requires jointly synthesizing portrait video and speech with high fidelity and precise synchronization, yet existing audio-visual diffusion models remain too slow for interactive use and often degrade noticeably after aggressive acceleration. We present Hallo-Live, a streaming framework for joint audio-visual avatar generation that combines asynchronous dual-stream diffusion with human-centric preference-guided distillation. To reduce articulation lag in causal generation, we introduce Future-Expanding Attention, which allows each video block to access synchronous audio together with a short horizon of future phonetic cues. To mitigate the quality loss of few-step distillation, we further propose Human-Centric Preference-Guided DMD (HP-DMD), which reweights training samples using rewards from visual fidelity, speech naturalness, and audio-visual synchronization. On two NVIDIA H200 GPUs, Hallo-Live runs at 20.38 FPS with 0.94 seconds latency, yielding 16.0x higher throughput and 99.3x lower latency than the teacher model Ovi. Despite this speedup, it retains strong generation quality, reaching comparable VideoAlign overall score and Sync Confidence score while outperforming other accelerated baselines in the overall quality-efficiency trade-off. Qualitative results further show robust generalization across photorealistic, multi-speaker, and stylized scenarios. To the best of our knowledge, Hallo-Live is the first framework to combine streaming dual-stream diffusion with preference-guided distillation for real-time, text-driven audio-visual generation.