Actually you can't, because think of it, it'll be a security risk. Your friend would send you and HTML file, and there it is, it accesses all the files on your C drive and deletes them.
However, you can
serve files (including image files) locally.
All you need is to install a local web server, and host your site in that server, and change the DNS settings, so that user would access a locally installed website using names in the browser, just the way they surf the Internet.